The steel industry is one of the important pillar industries in China, and the fluctuation of iron and steel prices is very important to the international development of the iron and steel industry. Under the background of "the Belt and Road", China’s iron and steel enterprises have entered the stage of transformation and upgrading. HBIS is a model enterprise in the construction of "the Belt and Road". Therefore, this paper takes HBIS as an example. First, based on the theory of supply and demand, labor value theory, and marginal effect theory, the impact of changes in steel prices on the internationalization path of iron and steel enterprises is analyzed. Secondly, the international cobweb model is used to comprehensively evaluate the current internationalization level of HBIS. Finally, according to the evaluation results, the internationalization development path of Chinese iron and steel enterprises is further summarized and studied.