Tool steel refers to a variety of carbon and alloy steels that are used to make tools. They have many uses because of their hardness, resistance to abrasion, and their ability to hold a cutting edge. With a carbon content between 0.7% and 1.4%, tool steels are manufactured under carefully controlled conditions to produce the required quality. Do to the low amount of manganese, the possibility of cracking is kept to a minimum. Heat treating of these steels is important for effective performance. Tool Steels come in a number of different grades for different applications.