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An alloy is a substance consisting of 2 or more chemical elements with one of them being a metal thus resulting in desire metallic properties. Steel is in alloy of iron and carbon.
| Elements | Main functions of these elements |
| Carbon (C) | Directly influences the hardness and strength of the steel, decreases toughness. |
| Chromium (Cr) | Improves Hardenability, high temperature strength, wear resistance and even Corrosion resistance (Cr>14%) |
| Cobalt (Co) | Improves retention of hardness at high temperatures. |
| Molybdenum (Mo) | Increases yield point and strength, improves Hardenability and wear resistance. |
| Manganese | Lowers effects of iron sulphides, increase hardenability, wear resistance. |
| Nickel (Ni) | Increases toughness at lower temperatures, slow the corrosion process. |
| Tungston (W) | Improves toughness, grainstructure, high temperature strength, wear resistance, ect. |
| Vanadium (V) | Increases wear resistance, high temperature strength, retention of hardness etc. |
| Silicon (Si) | It is a deoxidizing agent. Increases strength and wear resistance. |
It is of importance that certain elements are as low as possible. Elements like Hydrogen, Oxygen, Nitrogen, Phosphorous, Sulphur create defects inside & also reduce the mechanical properties of steel.
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