A steel sheet for an explosion-proof band having a high mechanical strength, excellent in welding properties and magnetic properties, and small in the deterioration with time of the magnetic properties, said steel sheet containing 0.001 to 0.2% by mass of C, 0.2 to 1% by mass of Si, 0.5 to 2.3% by mass of Mn, 0.02 to 0.15% by mass of P, not higher than 0.005% by mass of O, not higher than 0.03% by mass of S, and not higher than 0.01% by mass of N, and 0.0001 to 0.01% by mass of B, and having not higher than 100% of a P segregation rate within the steel sheet, which is represented by (Pmax−Pave)×100/Pave, where Pmax denotes the maximum P concentration within the steel sheet, and Pave denotes the average P concentration within the steel sheet, 5 to 25 μm of an average ferrite grain size, not lower than 7,000 of an anhysteretic magnetic permeability after heating at 500□ for 60 seconds, and not higher than 70 N/mm2 of an aging index AI.