What describes high speed steel?

High speed steel is known for its ability to retain hardness even at elevated temperatures, which is crucial for cutting tools that operate under high-speed conditions. This characteristic allows high speed steel tools to maintain their cutting efficiency and performance, enabling them to cut through materials without losing their edge, even when subjected to the heat generated during machining processes.

The other options do not accurately reflect the properties of high speed steel. While it is important for high speed steel to withstand high temperatures during operation, being lightweight and soft would negate its effectiveness as a cutting material. Its magnetic properties can vary, but it is not primarily known for being non-magnetic, and it is not designed for easy welding, as this can alter its properties and reduce its performance in tooling applications.