Abstract: It is available to produce high speed steel by rationally using abundant tungsten,molybdenum and vanadium ore resources in China and comprehensively applying high and advance technologies such as smelting reduction,electroslag remelting and microalloying so as to attain the goal economically utilizing these resources, increasing metallurgical quality,decreasing energy consumption,shortening process flow sheet and improving environment. In the meantime the production base to produce pit tool,die and cold-rolling roller of high speed steel according to international standards should be established to meet the steady increasing requirement of domestic manufacturing industry and to change resources export for products export in international market.

Key words: High Speed Steel, Ore Resources, Smelting Reduction, Electroslag Remelting, Microalloying