The invention provides a cored wire and its application. The cored wire comprises a core layer and an external layer wrapping the core layer, wherein the core layer is a mixture containing a
vanadium-
nitrogen alloy, iron
silicon nitride, a
titanium-iron
alloy and aluminum shots. The invention also provides a
vanadium and
nitrogen alloyed
molten steel, and a preparation method thereof. The method comprises the steps of feeding the cored wire into
molten steel to be
vanadium and
nitrogen alloyed, and carrying out vanadium and nitrogen alloying. The invention further provides a vanadium and nitrogen micro-alloyed steel. The vanadium and nitrogen micro-alloyed steel is obtained by
casting the vanadium and nitrogen alloyed
molten steel. The cored wire can be used for realizing the alloying of molten steel vanadium and nitrogen, can effectively increase the
oxygen content as needed without influencing the vanadium content, enables vanadium-containing steel with a higher content of nitrogen to be produced as needed, and can realize high and stable nitrogen
recovery rate. The vanadium and nitrogen micro-alloyed steel obtained after
casting the vanadium and nitrogen alloyed molten steel produced by carrying out molten steel vanadium and nitrogen alloying on the cored wire has high yield strength and tensile strength.