Abstract: A forging tool for precision forging of components of intermetallic or high-temperature stable phases with high yield stresses and shapeable at temperatures up to 1400° C. is made of graphite with a low-melting metal or a low-melting metal alloy infiltrated into its open-pored cavities, where metal carbides are created by heat treatment and form with the graphite a two-phase material hardened by subsequent quenching. The tool features high strength thanks to the yield stress increasing as the temperature increases at forging temperatures up to 1400° C., and is oxidation-resistant. It is electrically conductive, and has a low heat capacity, so that rapid inductive heating of the tool involving only low energy expenditure, short forging cycles and an inexpensive isothermic shaping process are possible. It has good lubrication properties, low wear and low manufacturing costs.