A method for producing a material includes providing a metallurgical
powder including iron, 1.0 to 3.5 weight percent
copper, and 0.3 to 0.8 weight percent carbon. At least a portion of the
powder is compressed at 20 tsi to 70 tsi to provide a compact, and subsequently the compact is heated at high temperature and then cooled at a
cooling rate no greater than 60° F. per minute to increase the surface
hardness of the compact to no greater than RC 25. The density of at least a region of the sintered compact is increased, by a mechanical working step or otherwise, to at least 7.6 grams / cc. The sintered compact is then re-heated to high temperature and cooled at a
cooling rate of at least 120° F. / min. so as to increase the surface
hardness of the compact to greater than RC 25, and preferably at least RC 30. Material made by the method of the invention also is disclosed.