As a basic raw material industry, the metallurgical industry is crucial for the national economy and national defense. Its development level reflects a country's degree of industrialization. The metallurgical industry currently faces multiple constraints in terms of resources, energy, and the environment. Green metallurgy is the only means to address these constraints, as it can foster the sustainable future development of China's metallurgical industry. Considering the background factors of carbon peak and carbon neutrality, domestic and international dual circulation, and supply-side structural reform, we analyze the current status and development trend of steel and nonferrous metals in China and abroad and review the development status of metallurgical technologies. Moreover, we examine the innovative development of green metallurgy from the perspective of resources, energy, and the environment and summarize several major problems. Based on prediction and potential analysis, we present the major strategic demand for green metallurgy and propose the following countermeasures: enhancing the strategic position of the metallurgical industry, developing disruptive technologies for waste-free metallurgy, deploying major innovation projects regarding resource and energy substitution as well as environmental pollution and carbon emission control, implementing a green metallurgy policy and standards, and creating an innovative talent training system and science popularization platforms.