The Shredder belt from Combat abrasives in an excellent option for those looking for the performance of a ceramic belt, without breaking the bank.
Ceramic abrasive belts are the best choice for stock removal on steel. Ceramic likes to be run fast with high pressure so you constantly break down the grain and expose sharp edges. Starting at 36 or 60 grit for your rough grinds and progressing up the grit range to 120 grit before moving onto a Trizact A100 finishing belt. This belt model goes up to a 220 grit ceramic, so you can then make the jump straight to an A45 Trizact.