In recent years, the recovery of valuable resources from industrial waste is attracting our concern as they can minimize the problem of pollution and can reutilize resources. Therefore, this study aims to analyze the properties of powder concentrate from iron- and steelmaking slag recycling, to understand the manipulation of the magnetic separator which is effective in the slag recycling, to figure out the amount of iron recovered and thus to find out optimal application field at each particle size. The conclusion of this experiment is as follows. 1. By different magnetic separation slag with different condition (3000~6000G, No. of separation(1~3)), raw material for friction like lining was recovered and tested. It was proper that iron and steel component can be used for optimal size and mechanical property. 2. Raw materials from nonmagnetic slag dust can be used for the dissociation of dioxine from incineration ash for cement.