To provide a steel wire for arc welding excellent in wire feedability and having the stable welding performance by applying to the wire the lubricant of the prescribed quantity containing the prescribed quantity of dissolved fume powder of iron and steel in the base oil of vegetable oil, animal oil or mineral oil.

The lubricant containing 0.05-10wt.% of the dissolved fume powder is applied to a wire by the quantity of 0.2-2.5g per 10kg of the wire. When the dissolved fume of iron and steel mainly consisting of the ferrous oxide is mixed in the base oil, the lubricant becomes excellent in wettability, and dies are not damaged because the primary particle is the ultra-fine particle of ≤1μm in size, and the drawing lubrication is excellent. The dissolved fume powder is, for example, the fume generated in the iron/steel refining, an arc melting furnace, a high frequency melting furnace, and the arc welding. When the oxide of Mn and Si like the arc welding fume is contained, a part thereof is vitrified to be the iron-based composite metallic oxide, and individual particles are easily collapsed by the pressure during the drawing, and the drawability is further improved.