Low-carbon transition of iron and steel enterprises plays an important role in the efficient and low-carbon development of Chinese iron and steel enterprises and the realization of "double carbon" goal. This paper presents the present situation of energy utilization in Chinese iron and steel enterprises, the main distribution and main utilization of waste heat resources. In terms of energy consumption, the comprehensive energy consumption per ton of steel in China's key iron and steel enterprises has been declining year by year, due to the traditional energy-saving technology in most iron and steel enterprises. However, the decrease rate of energy consumption per ton of steel has gradually decreased in recent years, which has shown an almost constant trend. It is imperative to carry out innovation and reform in energy-saving technology. At the same time, the technical development level of each steel enterprise is different, resulting in a huge difference between the minimum and maximum energy consumption per ton of steel. Moreover, the situation is still not optimistic in the utilization of waste heat resources in iron and steel enterprises. Although the utilization degree of waste heat resources in steel making and hot rolling processes is between 40% and 50%, the utilization degree of waste heat resources in coking, sintering and iron making processes is less than 20%. In the iron making process, the utilization degree of waste heat resources only reaches about 10%. Therefore, the innovation of waste heat recovery technology is very important for iron and steel enterprises to reduce energy consumption and improve the utilization of waste heat resources. Finally, this paper discusses the alternative role of new energy, such as biomass energy, green electricity, etc. to traditional energy. The use of new energy can help reduce the energy consumption of iron and steel enterprises, so as to achieve the "double carbon" goal as soon as possible.