In this book, the full spectrum of processing of Iron-Phosphorus alloys through Powder Metallurgy (P/M) route has been addressed. Phosphorus in steel in general increases the yield strength, ultimate tensile strength and hardness. Phosphorus also improves wear resistance, corrosion resistance and soft magnetic characteristics of iron. Phosphorus contents however promote brittle behaviour in wrought route owing to segregation of Fe3P along grain boundaries. P/M route avoids embrittlement in high Phosphorus containing Iron based alloys. In the present work the alloys have been forged using a hot powder forging technique. In this process mild steel encapsulated powders were hot forged into slabs. Then the slabs were hot rolled and annealed to relieve the residual stresses. Densifications as high as 98.9% of theoretical density have been realized. Very little academic literature exists on how to reduce the brittle behaviour of Phosphorus. The properties of phosphoric irons manufactured by the powder route have not been studied extensively by the scientific community. This book, therefore, provides a new metric of success for development of Fe-P alloys.