We are offering here the High Speed Steel that is a subset of tool steels, commonly used as cutting tool material. It is often used in power-saw blades and drill bits. The main use of high-speed steels continues to be in the manufacture of various cutting tools: drills, taps, milling cutters, tool bits, hobbing (gear) cutters etc. High speed steel is an alloy tool steel that retains much of its hardness and toughness at red heat after heat treatment.