Abstract: The study on the bond mechanism of metallic pellet produced from Zn-Pb-bearing iron and steel plant dust with carbon shows that its compression strength is not only dependent on the shape and amount of iron phase but also on the size of hole in metallic pellet. The hole size depends on the fluidity of slag phase in pellet and its filling condition to the hole in pellet.The amount and shape of iron phase depend on the reduction degree of pellet.