Vanadium-nitrogen alloy is a new type of alloy additive, which can be used in the production of micro alloyed steel instead of ferrovanadium. Vanadium nitride added to steel can improve the comprehensive mechanical properties of steel such as strength, toughness, ductility and thermal fatigue resistance, and make the steel have good weldability. At the same strength, adding vanadium nitride can save 30-40% of the amount of vanadium added, thus reducing the cost. Taking the construction industry as an example, the new Grade III concrete iron produced by vanadium-nitrogen alloying technology can not only enhance the safety and seismic resistance of the building, but also save 10% to 15% of the steel compared with the Grade II concrete iron because of its improved strength.