To make industrial explosives suitable for explosive welding of metal foils, colloid water was used as a covering of explosives. The effect of the colloidal water thickness on the critical thickness of the explosives was investigated, and then AA1060 foil and Q235 steel plate were bonded using this method. Additionally, the bonding properties of the clad plate were studied through mechanical performance tests and microstructure observations. The results show that the colloid water can significantly reduce the consumption of explosives and avoid excess energy in foil weld, due to the low critical thickness of explosives in this condition. The AA1060/Q235 composite sheet shows an excellent bonding quality without macroscopic defects except for the boundary area, and no separation, tearing or fracture was observed under bending load. The microstructure results show a wave-type metallurgical bonding between the two materials, with some melting zones in the crest. In addition, a hardening phenomenon near the AA1060/Q235 interface was revealed by microhardness and fractography studies on the tensile specimen.