In the process of continuous casting, especially high-speed continuous casting, the inflow state of the mold flux is particularly important. The fluxing agent is one of the most important factors affecting the flow state. The influence of the typical fluxing agent B
2O
3 on the viscous characteristics and melt structure of the fluorine-free CaO-SiO
2-M
2O (M = Li, Na) system was analyzed. The following conclusions were drawn. In the CaO-SiO
2-Na
2O slags, with the increasing addition of B
2O
3, the viscosity, breaking temperature, and polymerization degree of the slag show a gradually decreasing trend. When the mass fraction of B
2O
3 increased from 0 to 10%, the increase in two-dimensional [BO
3] structural units played a dominant role. When the mass fraction of B
2O
3 reached 15%, the network was affected by the increase in [BO
3] and the low-polymerized [SiO
4] tetrahedrons. The CaO-SiO
2-Li
2O slag system had a lower breaking temperature due to the formation of phases such as Li
2O·2B
2O
3, of a low melting temperature. The initial degree of depolymerization of the network was high. Upon increasing the addition of B
2O
3, the relative proportion of the network modifier structural units significantly increased, resulting in the enhanced instability of the network structure. As a result, the effect of [SiO
4]-polymerization was stronger than that of [BO
3]-depolymerization in maintaining the stability of the network structure.
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