For modern industrial production, in particular mass production, machining is one of the most important shaping and forming processes. Almost all tools employed for this purpose are made from high-speed steels. In recent times, the use of high-speed steels has gained increasing importance for chipless shaping, e.g. for extrusion, blanking, and punching tools. With regard to chemical composition, a clear distinction is made between ‘Tungsten’, ‘Molybdenum’, and ‘Tungsten-Molybdenum’ alloyed high-speed steel grades which, depending on the dominant stresses they will be exposed to, contain differing amounts of Carbon, Vanadium, and Cobalt.
The characteristic properties of all high-speed steel grades include:

• High working hardness
• High wear resistance
• Excellent toughness
• Compressive strength
• High retention of hardness and red hardness
• Strength to prevent breakage on the cutting edge