High-speed steel is a high-alloy tool steel containing alloying elements such as W, Mo, Cr, V, and Go, which boasts excellent processing properties, a good balance of strength and toughness, and strong resistance to impact and vibration. It can maintain high hardness (HRC over 60) even under high heat conditions during high-speed cutting (approximately 500℃), and has good red hardness, making it suitable for making milling cutters, turning cutters, and other cutting tools. It can meet the requirements of cutting environments such as the hardening layer and poor heat dissipation during the cutting of 304 stainless steel tubes.
 
W18Cr4V is a typical high-speed steel tool, having been widely used to manufacture various cutting tools since its inception in 1906 to meet the needs of machining. However, with the continuous improvement in the mechanical properties of the materials being processed, the W18Cr4V tool has become inadequate for processing difficult materials. High-performance cobalt high-speed steel has emerged in response. Compared to regular high-speed steel, cobalt high-speed steel boasts superior wear resistance, red hardness, and reliability in use, making it suitable for high metal-removal rate and intermittent cutting operations. Common grades include W12Cr4V5Co5.