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Not sure if this is the right place, however.... Back years ago there was a local company the produced sucker-rods and the like. I have some of the steel that they used. It is air hardening. And red hard. The company called it "L material"  It will not take an arc weld unless it is pre-heated. If water or oil quenched it will shatter. It shatters while quenching in water, even hot water. I have it in 3/4 and 5/8 rounds,and thought it would make good chisels and punches. I just don't know how to heat treat it. Any ideas? 

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If you are referring to L-6 tool steel then check this link out (and any other time you want to know about a certain alloy). http://www.simplytoolsteel.com/L-6-tool-steel-data-sheet.html
Hope that helps.
-Crazy Ivan


Oops, Just re-read your OP again and I missed the part where you specified that it is air hardening. Definitely not L-6 steel.
-Crazy Ivan

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My Father-in-law worked there in the late 60s and brought some work home with him. I know that they forged it at a bright yellow and mostly with 200 ton presses. My buddy and me worked for over 20 min with an 8 pound hammer to flatten the end of a bar. We wanted to see if it would make good blades. My mother uses that bar as a pry bar. It does make good firing pins, no need to heat treat. Lathe it and install it.

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