The invention relates to a powder metallurgically manufactured steel with a chemical composition containing, in % by weight: 0.01-2 C, 0.6-10 N, 0.01-3.0 Si, 0.01-10.0 Mn, 16-30 Cr, 0.01-5 Ni, 0.01-5.0 (Mo+W/2), 0.01-9 Co, max. 0.5 S and 0.5-14 (V+Nb/2), where the contents of N on the one hand and of (V+Nb/2) on the other hand are balanced in relation to each other such that the contents of these elements are within an area that is defined by the coordinates A′, B′, G, H, A′, where the coordinates of [N, (V+Nb/2)] are: A′: [0.6,0.5]; B′: [1.6,0.5]; G: [9.8,14.0]; H: [2.6,14.0], and max. 7 of (Ti+Zr+Al), balance essentially only iron and impurities at normal amounts. The steel may be used for tools for injection molding, compression molding and extrusion of components of plastics, and cold working.