Abstract: A workpiece of alloy steel is produced by sintering under a nonoxidizing atmosphere a mass of malleable-iron powder admixed with a comminuted complex ferroalloy. The latter, obtained from a molten mixture of several simple high-carbon ferroalloys saturated with graphite, is a blend of at least three nonferrous metals and iron in carbide form, including a complex carbide of formula M.sub.7 C.sub.3 containing iron and manganese with the possible addition of chromium and another carbide of formula M'.sub.2 C/M'C containing molybdenum with the possible addition of vanadium and/or niobium. The carbidically bound carbon amounts to at least 4%, by weight, of the ferroalloy composition and may constitute between 10% and 60% of the carbon of the sinterable powder mixture to which elemental carbon may be added as graphite. As the mass of iron and ferroalloy particles compacted under high pressure is sintered at temperatures between about 1150.degree. and 1300.degree. C.