I'm not too knowledgeable about Baltimore steel making but I know a little bit about Sparrows Point. Is that kind of what you're going for?
I think you've done a good job compressing and I think that you did a good job linking the sidings in the top half for operations between the yard and furnaces. I also opted for loops to increase traffic. I think it's the way to go and I think your loops will blend in with the rest of the layout.
One thing I would urge you to consider is to adopt Ross Custom Switches. They work with Atlas track but more importantly, the variety in switches available will let you accomplish a ton in a smaller place. I have a different track program so I can't use your file but it's definitely worth looking into for industrial operations.
How in depth do you plan to go with the structures for the plant?