Abstract: The participation of iron and steel enterprise in the carbon market is of great significance for realizing the goal of "Carbon Peak ＆ Carbon Neutrality". In the face of the price fluctuation of the electricity and carbon markets and the irrational psychology of the trading entities,it is extremely challenging for iron-and-steel enterprises（ISE）to formulate the trading strategy. Therefore,a bidding strategy for electricity-carbon market trading of ISE considering bounded rationality is proposed. Firstly,the model of steel production system consumption and power generation of captive power plant is set up,and material-electricity-carbon relationship model of steel production process is presented. Then,based on the prospect theory,the bounded rationality characteristics of ISE is analyzed in decision-making,and an electricity-carbon market trading decision-making model is constructed for steel production enterprises,with the upper layer being a bounded rationality ISE revenue model,and the lower layer being the electricity market and carbon market clearing model. After that,the KKT theorem and strong duality theorem are used to transform the double-layer mixed-integer nonlinear model into a mixed-integer linear programming problem for fast solution. Finally,the effectiveness and computational efficiency of the method are verified by using the IEEE 30-node case.