A new technology of metal billets production by molding and thermal treatment of compositions based on iron powders of medium dispersion, fine powders of iron oxide, and the thermosetting binder, which provides for the required physical and mechanical properties of the material, is proposed. It is found that, at a certain concentration and dispersion of the components of the solid phase, the injection and direct compression molding of parts of complex shape (similar to the MIM-technology) is possible at pressures from 70 MPa to 100 MPa ensuring uniform density over the cross section. The established stages of thermal treatment of compositions, thermal behavior and protective medium ensuring uniformity of products, and chemical composition of the product material are presented in the paper. The experimental and theoretical studies of the dimensional accuracy of steel products obtained by the developed technology were carried out, and it was discovered that the produced parts were of the precision of steel parts produced by MIM-technology.