The invention discloses an iron steel electricity consumption forecasting method and device. The forecasting method comprises the following steps: acquiring iron steel historical data of an area to be forecasted within a preset period of time to serve as sample data, wherein the iron steel historical data comprises electricity consumption index and iron steel electricity consumption; performing dimensionless treatment on the sample data to obtain normalized electricity consumption index and normalized iron steel electricity consumption; adopting the normalized electricity consumption index as an input variable, and the normalized iron steel electricity consumption as an output variable to realize network training so as to build a nerve network model; adopting the normalized electricity consumption index as the input variable and the normalized iron steel electricity consumption as the output variable to build a support vector regression model; combining the nerve network model and the support vector regression model to obtain a combined model, and using the combined model to forecast the iron steel electricity consumption. According to the invention, the demand on the forecasting precision of the iron steel electricity consumption is satisfied to the utmost extent, and reference is provided for economical and reasonable planning of a power grid.