The invention discloses a production process of alloy powder, slurry and a negative electrode and a production process of a battery. The alloy powder is prepared from the following components in percent by weight: 34.24 to 34.28 percent of hydrogen storage alloy, 62.65 to 62.73 percent of Ni, 1.24 to 1.25 percent of Mg, 0.00 to 0.03 percent of Co, 0.00 to 0.01 percent of Mn, 1.45 to 1.46 percent of Al, 0.02 to 0.03 percent of Fe, 0.00 to 0.01 percent of Ca and 0.00 to 0.01 percent of Si. By using the alloy powder disclosed by the invention to produce the negative electrode of the battery, thehydrogen storage performance of the battery is greatly improved, battery scrap which is directly caused by poor hydrogen storage performance of the battery is avoided, the service life of a rechargeable battery is prolonged, self-discharge of the rechargeable battery is effectively inhibited, the use rate of unfavorable electric energy of the rechargeable battery is improved and electric energy isgreatly saved.