During continuous slab casting, strand electromagnetic stirring (S-EMS) has a significant effect on improving the slab quality. In the current work, a numerical model based on the practical slab continuous casting machine and coupled electromagnetic field, flow field, solidification, and solute transport was established to investigate and evaluate the effect of the S-EMS installation position with various current intensities on metallurgical behavior. The model was verified by magnetic field measurement, infrared camera, and nail shooting experiments. The results show that moving the S-EMS installation position to the solidification end reduces the stirring effect due to the skin effect and the increasing thickness of the slab shell. A higher installation position is beneficial for improving the equiaxed grain rate, while a lower one is beneficial for reducing carbon segregation. The maximum segregation index and range decrease from 1.26 to 1.2 and from 0.42 to 0.36 with the installation position being decreased from −3 m to −12.8 m, respectively. The industrial trials show that S-EMS installed at 3 m has a significant effect on expanding the equiaxed grain zone and a deteriorating effect on reducing carbon segregation.