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Carbon included in coke and coal was used as a reduction agent and fuel in blast furnace (BF) ironmaking processes, which released large quantities of carbon dioxide (CO2). Minimizing the carbon consumption and CO2 output has always the goal of ironmaking research. In this paper, the reduction reactions of iron oxides by carbon, the gasification reaction of carbon by CO2, and the coupling reactions were studied by thermodynamic functions, which were derived from isobaric specific heat capacity. The reaction enthalpy at 298 K could not represent the heat value at the other reaction temperature, so the certain temperature should be confirmed by Gibbs frees energy and gas partial pressure. Based on Hess’ law, the energy consumption of the ironmaking process by carbon was calculated in detail. The decrease in the reduction temperature of solid metal iron has been beneficial in reducing the sensible heat required. When the volume ratio of CO to CO2 in the top gas of the furnace was given as 1.1–1.5, the coupling parameters of carbon gasification were 1.06–1.28 for Fe2O3, 0.71–0.85 for Fe3O4, 0.35–0.43 for FeO, respectively. With the increase in the coupling parameters, the volume fraction of CO2 decreased, and energy consumption and CO2 output increased. The minimum energy consumption and CO2 output of liquid iron production were in the reduction reactions with only CO2 generated, which were 9.952 GJ/t and 1265.854 kg/t from Fe2O3, 9.761 GJ/t and 1226.799 kg/t from Fe3O4, 9.007 GJ/t and 1107.368 kg/t from FeO, respectively. Compared with the current energy consumption of 11.65 GJ/t hot metal (HM) and CO2 output of 1650 kg/tHM of BF, the energy consumption and CO2 of ironmaking by carbon could reach lower levels by decreasing the coupled gasification reactions, lowering the temperature needed to generate solid Fe and adjusting the iron oxides to improve the iron content in the raw material. This article provides a simplified calculation method to understand the limit of energy consumption and CO2 output of ironmaking by carbon reduction iron oxides.

Thermodynamic Study of Energy Consumption and Carbon Dioxide Emission in Ironmaking Process of the Reduction of Iron Oxides by Carbon