A substantial quantity of waste heat resources generated in iron and steel manufacturing process (ISMP) can fulfill certain demand for urban heating. However, the waste heat utilization level of different iron and steel enterprises varies a lot and few studies have combined the upstream enterprise’s production with downstream waste heat utilization for discussion. By establishing an optimization model based on material balance, thermodynamic laws and reaction mechanism of the ISMP, this study firstly obtain the minimum exergy loss and the corresponding production cost & exergy efficiency. The total exergy loss of ISMP is reduced from 8413.19 MJ/t-MS to 7669.27 MJ/t-MS. The exergy efficiency of the whole process is increased from 63.75 % to 65.46 % and the total waste heat potential reaches 1471.25 MJ/t-MS. It is found that coke ratio, air leakage rate, scrap steel ratio, etc. have great impact on exergy loss of ISMP. Then, the optimization and evaluation of the waste heat utilization are carried out by establishing models with taking urban heating into consideration. The available external heat supply is 813.15 to 853.55 MJ/t-MS and the enterprise's heating load can reach 229.23–251.47 MW, which allow to supply heat for an area of 5.46–5.93 million m2. Finally, the problem of waste heat instability in the heating process is briefly discussed and some solution strategies are proposed to overcome this defect.
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