Erythroid cells of the bone marrow, the most avid consumers of iron in the body, acquire ferric (Fe3+) iron exclusively via the transferrin cycling pathway. A long-standing fundamental molecular question of how ferric iron is handled in this pathway has been recently resolved by the identification of Steap3 (sixtransmembrane epithelial antigen of the prostate 3) as an endosomal ferrireductase needed for efficient utilization of transferrin-delivered iron. Further characterization of Steap3 and other Steap proteins reveals a possible greater role of Steap proteins in iron and copper metabolism.