Forged part of steel and a method of manufacturing thereof

A steel for forging mechanical parts comprising the following elements, the steel having a composition expressed in percentage by weight:

• 0.2%≤C≤0.5%;
• 0.8%≤Mn≤1.5%;
• 0.4%≤Si≤1%;
• 0.15%≤V≤0.6%;
• 0.01%≤Nb≤0.15%;
• 0.01%≤Cr≤0.5%;
• 0.01%≤P≤0.05%;
• 0.04%≤S≤0.09%;
• 0.01%≤N≤0.025%;
• and optionally one or more of the following elements
• 0%≤Al≤0.05%;
• 0%≤Mo≤0.5%;
• 0.01%≤Ni≤0.5%;
• 0%≤Ti≤0.2%;
• 0%≤B≤0.008%;
• 0%≤Cu≤0.5%;
• 0%≤Ce≤0.1%;
• 0%≤Sn≤0.1%;
• 0%≤Mg≤0.010%;
• 0%≤Zr≤0.010%;
• a remainder of the composition being composed of iron and unavoidable impurities, a microstructure of the steel comprising 50% to 90% of pearlite, 10% to 40% of ferrite, and optionally acicular ferrite between 0% and 2%, a niobium equivalent being 80% or more, wherein the microstructure is free from bainite, wherein the sheet has an ultimate tensile strength of 1030 MPa or more, a yield strength of 750 MPa or more, and a total elongation of at least 12.0%.