Abstract: An induction furnace includes a crucible having a plurality of cooled metallic segments (6A, 6B) electrically insulated from each other and an electromagnetic induction coil (5) arranged around the crucible, wherein the electromagnetic induction coil is energized with low frequency electric current. Each of the metallic segments forming the crucible wall is made of a relatively thin sheet, and a cooling pipe is provided on each segment. The cooling pipes (22) are welded or brazed to an outer surface of each corresponding segment. A refrigerant flows through each pipe in order to evacuate heat from the corresponding segment. The furnace further includes a magnetic core (8) disposed above and near the top surface of the charge placed in the crucible. This magnetic core provides local narrowing of the magnetic field lines, causing centripetal motion of the melted part of charge located at or near the top surface of the charge.