Abstract: Solution of ferric nitrate was obtained from industrial iron based on the following equation Fe+4HNO3→Fe(NO3)3+NO+H2O and 2NO+O2→2NO2. Fe-Cu-K-Si catalysts were prepared in a continuous precipitation reactor. Performance of No.16 catalyst prepared from Q-235 carbon steel is the best among three industrial irons: iron sheet, iron powder and Q-235. In the range of 265 ℃～276 ℃, 1.5 MPa～1.6 MPa, H2/CO 0.68～1.0 and WHSV 3.6 L/g·h～4.2L/g·h, the mean values of xH2+CO and C5+ are 68.7% and 96.7 g·m－3 in the evaluation test of 432 h. Performance of No.16 catalyst being lower than that of No.9 catalyst is due to effect of poison of P,S contained in industrial iron Q-235.