A titanium based carbonitride alloy containing Ti, Nb, W, C, N and Co. The alloy also contains, in addition to Ti, 9-14 at % Co with only impurity levels of Ni and Fe, 1-<3 at % Nb, 3-8 at % W and has a C/(C+N) ratio of 0.50-0.75. The amount of undissolved Ti(C,N) cores should be kept between 26 and 37 vol % of the hard constituents, the balance being one or more complex carbonitrides containing Ti, Nb and W. The alloy is particularly useful for milling of steel.