According to the chemical composition of iron and steel metallurgical dust and the occurrence state of each valuable element at home and abroad, the current process status of extracting valuable elements from iron and steel metallurgical dust at home and abroad is compared, and the influencing factors and existing problems of the pyrotechnic treatment process are analyzed based on the basic principle of thermodynamics. On this basis, focusing on the problem of synergistic resource utilization of iron and steel metallurgical dust, it is proposed that the efficient utilization of carbon resources contained in the dust itself, and the use of pyrotechnic enrichment-wet separation and extraction-recycling tailings process, is an effective way for China's metallurgical industry to realize the full resource utilization of iron and steel metallurgical dust in the future.