1023 cold rolled steel plate is made of low-carbon alloy steel designed for use in applications that require excellent machinability and formability. This type of steel comes with outstanding weldability and machinability, making it an ideal choice for various applications. Its composition mainly includes iron, carbon, and manganese.

1045 is a medium carbon steel is used when greater strength and hardness is desired than in the "as rolled" condition. Extreme size accuracy, straightness and concentricity combine to minimize wear in high speed applications. Commonly used in gears, shafts, axles, bolts, studs and machine parts.