The EAF Dusts and pickling sludges generated in the stainless steel production contain a lot of valuable metals such as iron, nickel, chromium and manganese. Their compositions are similar to those of laterite nickel ore, and sometimes even better than that at the contents of nickel and chromium. But it is regret that these valuable resources were random piled up or landed fill disposal. In this paper, the typical EAF dusts and pickling sludges and reductant coke powder were mixed in appropriate ratio, and then smelted in a medium frequency induction furnace. In the smelting process, the lime powder and fluorite was added to fluxing, and the ferrosilicon powder was added to strengthen the reduction. The product nickel-chromium-iron can be used as the raw material for stainless steel or cast iron production. The technology has good social and economic benefits.