The iron and steel industry is crucial for economies worldwide but faces challenges such as environmental pollution and carbon emissions due to heavy fossil fuel consumption. To address these issues and achieve sustainable development, there is a growing interest in hydrogen metallurgy technology. China, aiming for carbon neutrality by 2060, has set the path for green and low-carbon development in its iron and steel sector. Steel companies globally are embracing hydrogen metallurgy for its potential to achieve zero emissions. Projects like ULCOS in the EU and H2FUTURE by voestalpine, among others, highlight the shift towards hydrogen-based processes. In China, major players like Baowu Group and HBIS Group are investing in hydrogen metallurgy and direct reduced iron technology. Research studies have demonstrated the benefits of hydrogen in reducing carbon emissions and enhancing energy efficiency in steel production. Studies by Guo, Shatokha, Feng, Zhang, Qiu, and Wan have explored various aspects of hydrogen metallurgy, showcasing its potential in emission reduction and energy optimization. However, these projects are still in the experimental phase. Resource optimization and efficient management are also vital for achieving green and low-carbon manufacturing in the steel industry. The focus on material flow analysis and energy efficiency models contributes to developing low-carbon production strategies. While hydrogen metallurgy projects hold promise for energy savings and emission reductions, further research and practical applications are essential for widespread adoption in the iron and steel sector.