The product is made from high-grade fused magnesia, high-grade flake graphite, and antioxidant as main raw materials, with phenolic resin as the binder. It is prepared by mixing, pressing, and baking. It exhibits excellent high-temperature strength, oxidation resistance, thermal shock stability, and resistance to erosion and penetration by molten steel and slag. It is used as the working lining of converters and offers a significantly extended service life.