Abstract: The mathematical model of the smelting reduction two-stage process with the shaft furnace-iron bath can be used for calculating the energy balance for the processes of the coal gasification in the iron bath, smelting scrap, prere-ducing are or pellets in the shaft furnace and smelting redution in the iron bath. The results calculated by the model conform with the results of the pilot plant test of those processes satisfactorily, which shows that the model is very reliable. Mean while, the parameters in the model is discussed in detail and selected reasonably so that the model can be used for calculating the energy balance of the smelting reduction two-stage process with the shaft furnace iron bath.