Vanadium iron powder increases the elastic limit of steel and improves its quality; In tool steel, the main goal is to refine the structure and grain size of the steel, increase its tempering stability, enhance its secondary hardening effect, improve its wear resistance, and extend the service life of the tool; Vanadium iron powder also plays a beneficial role in heat-resistant and hydrogen resistant steels; The vanadium involved in cast iron promotes the formation of pearlite due to the formation of carbides, which stabilizes the cementite. The appearance of graphite particles is fine and uniform, refining the grain size of the matrix, thereby improving the hardness, tensile strength, and wear resistance of the casting.