A binder for metallurgical powder compositions for powder metallurgy (P/M) applications includes styrene/maleic anhydride copolymers and their derivatives. Addition of such binders has improved resistance to dusting, and has improved flow properties of the compositions, even in high relative humidity environments. The compositions can be compacted either at cold or warm temperatures. A mechanical strength of a sintered product containing the binder-treated mix is similar to that of sintered products without the binder.