Abstract: A matrix-bonded carbide-containing material of high hardness is prepared using a mixture containing a matrix alloy having a composition in weight percent of from about 15 to about 45 percent chromium, from 0 to about 3 percent silicon, from about 2 to about 6 percent boron, from about 3 to about 11 percent titanium (either as metal or as a compound), balance iron and impurities, and a mass of tungsten carbide particles, the tungsten carbide particles preferably being present in an amount of from about 15 to about 60 percent by weight of the total mixture and the matrix alloy preferably being present in an amount of from about 85 to about 40 percent by weight of the total mixture. The matrix alloy is melted to produce a flowable mixture having a liquid phase and solid tungsten carbide particles, and thereafter solidified. During melting, the tungsten carbide particle size is reduced by interaction with the liquid phase.