From studies on the Damascus steel, the manufacturing of ultra-high carbon content steel (UHCS) by powder metallurgy has been carried out in previous works. UHCSs have been manufactured mixing iron and graphite powders, uniaxial compacting, and sintering in vacuum atmosphere. Finally, they have been hot-rolled at relatively low temperatures using their superplasticity to obtain optimum properties. High hardness particles of SiC (micro and nanometric size) and diamond (with and without coating) were added to UHCS to produce inserts for cutting discs. Their mechanical properties have been studied through bending tests and hardness measurements. SEM observations have shown how the structure of the steel and the particles has been modified depending on the performed thermo-mechanical treatment. This way, it is possible to justify the effect of the addition of high hardness particles in the reduction of plasticity and wear resistance of the material.