For the damage identification of derrick steel structures, traditional methods often require high-order vibration information of structures to identify damage accurately. However, the high-order vibration information of structures is difficult to acquire. Based on the technology of signal feature extraction, only using the low-order vibration information, taking the right front leg as an example, we analyzed the selection of HHT marginal spectrum amplitude and the calculation process of its curvature in practical application, designed the damage conditions of a derrick steel structure, used the index and intrinsic mode function (IMF) instantaneous energy curvature method to perform the damage simulation calculation and comparison, and verified the effect of identifying the damage location in a noisy environment. The results show that the index can accurately determine the location of the damage element and weak damage element and can be used to qualitatively analyze the damage degree of the element; under the impact load, the noise hardly affects the identification of the damage location. Finally, this method was applied to the ZJ70 derrick steel structure laboratory model and compared with the IMF instantaneous energy curvature method. We verified the feasibility of this method in the damage location simulation experiment.