Abstract: The present invention is related to an air melted, substantially graphite and nitrogen-free alloy, aged or not aged by precipitation hardening, specially adapted for gas turbine or internal combustion engine exhaust system parts, comprising a graphite-free microstructure of the following composition: 1 Carbon max 0.4 wt. % Silicon 0.5 to 6 wt. % Manganese 0.1 to 4.5 wt. % Phosphorous 0.01 to 0.08 wt. % Nickel 13 to 38 wt. % Chromium 0 to 6 wt. % Sulphur max 0.12 wt. % Nitrogen max 0.02 wt.