The development of iron and steel production is briefly reviewed. Metallurgy under gas pressure appeared at the end of the twentieth century. Even at this early stage, some significant benefits of metallurgy under pressure over traditional metallurgy and vacuum metallurgy have been established, such as fourfold increase in yield point with reduced consumption or elimination of some expensive alloying elements (Ni, Mo, Co, W, etc.); the possibility of alloying with nontraditional elements (Ca, Zn, Pb, etc.); low environmental impact; and stable development. Metallurgy under pressure may be expected to give rise to breakthroughs in the production of high-quality and special metal. Of the currently existing methods, the most promising is the use of a large steel-smelting bath.