In this study, iron based alloys (Fe, Fe-Cr-M-Mo, etc.) were produced by using metallothennic methods starting from Mill Scales obtained continuous casting processes. During the process, the combustion was realized by ignition and the produced wave propagates throughout the reactant mixture yielding the desired product. In this work, Mill scale used as an iron source, which includes +2, +3 values iron oxides. Aluminum, Magnesium and Silicon were used as reductants. In these metallothermic experiments, different ratios of reductants were examined, and their effects on the metal recovery and alloy compositions were investigated. The samples were characterized by using chemical analysis (AAS), XRD and XRF techniques.