Research Institute of Functional Materials ,Central Iron & Steel Research Institute is one of the bases for research and development of the functional materials in China. The major fields that the institute covers are soft magnetic materials, rapid quenching technology and rapidly solidified materials, permanent magnetic materials, special alloys, magnetic shielding materials and techniques, hydrogen storage alloys, magnetostrictive magnetic materials, film materials, design of alloy electronic structures , magnetic liquid, LDJ equipment for magnetic measurement. It has a qualified team undertaking research, development and production of functional materials. 80% of staff members are technical personnel including 1 member of China Academy of sciences, 5 experts who have received the state special subsidy, 3 national level outstanding young and middle-aged experts and 13 postgraduate advisers 8 of whom are doctor advisers. It is authorized to confer doctor degree for 1 first-grade discipline and 3 second-grade disciplines as well as master degree for 4 second-grade disciplines. A post-doctorate station for the national industrial research institute is established here.

A great number of crucial new materials have been developed and produced in the institute for China national defence construction in the fields of aerospace, armament, nuclear industry, warship and for civil economic constructions in metallurgical energy resources, transportation, machinery, electronics, oil exploration, medicine and health care etc. Till now, the institute has won numerous national awards and has made great contributions to the development of functional materials in China.