Refining slag for bearing steel production and smelting process of refining slag

The invention discloses refining slag for bearing steel production and a smelting process of the refining slag, wherein the refining slag comprises the following components in percentage by weight: less than or equal to 6% of SiO2, 40-50% of Al2O3, 45-55% of CaO, less than or equal to 8% of MgO, less than or equal to 0.05% of TiO2 and less than or equal to 2% of Fe2O3, the particle size is controlled at 3-45mm, and the alkalinity is controlled at about 10; and the smelting process comprises the main steps of predeoxidizing after converter tapping, starting to alloy at 80s after starting to tap (the tapping quantity is about 35t), adding one of aluminum iron, carbon powder, alloy and lime in sequence, impacting and smelting by using a steel flow, and then, adding the other material; adding 600Kg of the refining slag at one step after a refining furnace is seated; and adding a deoxidizer by strictly executing the principles of multiple batches and small quantity. By using the refining slag, the problem for cont