This study presents an economic assessment of integrating an electrorefining process into conventional electric arc furnace (EAF) mini-mills for the production of hot-rolled coil (HRC) steel with low copper (710 ppmw), sulfur (<10 ppmw), and carbon (197 ppmw) content from 100% scrap steel containing copper tramp elements (0.43 or 0.21 wt % Cu). The research extrapolates laboratory results to develop an industrial-scale combined process using electrorefining cells. Economic evaluations were performed through scenario, financial, and sensitivity analyses. The total levelized cost of HRC steel production from 100% scrap was estimated at $941.73 per tonne for 0.43 wt % Cu steel and $783.24 per tonne for 0.21 wt % Cu steel. The net profit (NPV) and internal rate of return (IRR) were low at the current HRC price, with figures of −$5.67 million and 4.9% for 0.43 wt % Cu steel, and $225 million and 9.8% for 0.21 wt % Cu steel. Sensitivity analysis shows that the NPV and IRR are significantly influenced by electrolyte material costs and scrap prices. The study highlights limitations of the proposed process and suggests future research directions to improve its technoeconomic viability.