A refractory product includes CaO component-containing refractory particles and MgO component-containing refractory particles. The refractory material contains, a chemical composition measured after it has undergone heating in a non-oxidizing atmosphere at 1000° C., one or more of the following metal oxides B2O3, TiO2, V2O5, P2O5 and SiO2 in a total amount of 0.1 to 5.0 mass %, and free carbon in an amount of 2 to 35 mass %, with the remainder including CaO and MgO whose mass ratio (CaO/MgO) is in the range of 0.1 to 1.5. In microscopic observation performed at room temperature on the refractory material which has undergone the above heating, an inorganic film comprised of CaO and the one or more metal oxides is formed in at least each CaO surface of the refractory particles each containing either one or both of a CaO component and an MgO component, with a thickness of 0.1 to 25 μm.