Purchase heating elements, try to create the furnace itself. This will save your budget and bring satisfaction from the work done. The only problem you may face is temperature control, but without it it is possible to do, if we completely control the melting process.
Take for melting steel, a special place that will not bring harm to anyone. It could be a garage if there is enough space to accommodate your equipment. When you use homemade horns on coal and diesel do not forget to organize the heat and blowing air. For insulation, the perfect grog.
For simple fun, without any serious intentions, try to create a small oven for cooking and not for full melting. As a rule, it takes a lot of time and effort.
Remember, depending on the composition of the steel depends on the melting temperature. For beginners this can be problematic, but over time, with experience, you learn how to withstand time and to determine the readiness of steel to further work on it. From the school course of physics you should know what the approximate melting temperature of steel is around 1300-1400 degrees, that characterizes steel as a refractory material.
While heating the steel becomes soft and loses strength. Therefore, the melting process characterizes the quality of the steel. For the heating of steel to the required temperature in the oven is necessary to introduce additional heat through regenerators. When the electric method uses an electric power.
In induction crucible furnaces use any scrap. Add toxins, they improve the activity of melting. Be sure to follow the indications of the device, if necessary, the melting regime change to a more gentle.