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Study on the resource utilization of CO₂ is important for the reduction of CO₂ emissions to cope with global warming and bring a beneficial metallurgical effect. In this paper, research on CO₂ utilization in the sintering, blast furnace, converter, secondary refining, continuous casting, and smelting processes of stainless steel in recent years in China is carried out. Based on the foreign and domestic research and application status, the feasibility and metallurgical effects of CO₂ utilization in the ferrous metallurgy process are analyzed. New techniques are shown, such as (1) flue gas circulating sintering, (2) blowing CO₂ through a blast furnace tuyere and using CO₂ as a pulverized coal carrier gas, (3) top and bottom blowing of CO₂ in the converter, (4) ladle furnace and electric arc furnace bottom blowing of CO₂, (5) CO₂ as a continuous casting shielding gas, (6) CO₂ for stainless steel smelting, and (7) CO₂ circulation combustion. The prospects of CO₂ application in the ferrous metallurgy process are widespread, and the quantity of CO₂ utilization is expected to be more than 100 kg per ton of steel, although the large-scale industrial utilization of CO₂ emissions is just beginning. It will facilitate the progress of metallurgical technology effectively and promote the energy conservation of the metallurgical industry strongly.