Alloy steels contain alloying elements added to carbon steel to improve properties. Low alloy steels contain up to 8% alloying elements while high alloy steels contain more than 8%. Alloying elements like manganese, chromium, nickel, and molybdenum increase strength and hardness. Tool steels are specially formulated carbon and alloy steels selected for hardness, heat resistance, and ability to hold an edge at high temperatures. Common types include water hardening W grades, and cold working grades O and A which can be oil or air hardened respectively.