Cast iron and steel are two very different materials.
common steel -- type 1020 has .18% to.23% carbon
Cast iron has 1.7% to 4.5% carbon
Mallable iron is produced by the annealing or graphitization of White iron castings.
So as you see one must remove a very large amount of carbon from basic cast iron befor ever getting to the product we now call steel.
One of the problems of making steel castings is that common steel just starts to melt around 2700 F and dosen't become real pourable untill just short of 3000 F on the other hand cast iron pours well around 2500 F. As you see electric furnaces are needed for quality steel castings where cast iron can be melted in fossil fuel furnaces.
Like they keep saying on TV -- Don't try this at home