Abstract: A steel having excellent HAZ toughness can be used for ships, buildings, pressure containers, linepipes, and so forth. The steel is of a Ti--Mg--O system steel containing at least 40 pcs/mm.sup.2 of oxide and composite oxide particles of Ti and Mg having a size of 0.001 to 5.0 .mu.m. A steel having excellent HAZ toughness can be produced, and the safety of structures using this steel can be remarkably improved.