Strain sensors can indicate the conditions of concrete structures, but these sensors are only capable of measuring local behaviors of materials. To solve this problem, researchers have introduced conductive materials that can monitor the overall behavior of concrete structures. Steelmaking slag, which contains large amounts of iron oxide (Fe2O3), is conductive, and researchers have considered the addition of this material to improve concrete monitoring. In this study, mechanical and electrical properties of concrete containing steelmaking slag as a binder were evaluated. As the incorporation of steelmaking slag increased, the setting times were delayed, but the compressive strengths were similar within the replacement ratio of 15%. It was found that the addition of steelmaking slag with Fe2O3, the main ingredient of magnetite (Fe3O4), improved the electrical resistivity, piezoresistivity, and sensitivity of the concrete. Drying of the concretes resulted in an increase in electrical resistance and fractional change in resistivity (FCR). Expansion of steelmaking slag, due to contacting of free CaO and moisture under repeated loads, resulted in cracks in the concrete and affected the gauge factor (GF). This study demonstrates the possibility that the addition of steelmaking slag as a binder may provide an economical and environmentally-friendly solution to concrete strain monitoring.