Ramax-2 is chromium-alloyed stainless holder steel. It is manufactured by Uddeholm Tooling AB (Hagfors, Sweden) and supplied in prehardened and tempered condition. It is used for plastic and rubber molds and for dies for plastic extrusion. It has excellent machinability and corrosion resistance and has uniform hardness comparable with AISI 420F. It was machined by turning process and the formation of shear bands and their width was observed in the chips collected at cutting speeds from 50 to 250 m/min. The chemical composition of the workpiece material is given in Table 1. The mechanical and physical properties are given in Table 2. The samples were taken from a round bar of 28 mm diameter. The purpose of this research was to experimentally measure the response of Ramax-2 at cutting speeds ranging from 50 to 250 m/min, the upper limit being in the domain of high-speed machining. Shear band formation at various strain rates will be measured, and consequently, the strain rates generated in high-speed machining of Ramax-2 will be calculated.