PURPOSE: To obtain a mold material having suitable setting, swelling and thermal expansion of a mold so as to compensate for the casting shrinkage in casting a high-melting and/or an oxidizable metal.

CONSTITUTION: The objective mold material for casting contains at least an aggregate, a binder and titanium carbide. One or two or more of combined oxides of Ma, Ca, Zr, Ti, Si, etc., alone or a mixture thereof is used as an aggregate. A phosphate, a basic metallic oxide, etc., are used as the binder. The amounts of the components are 2-8wt.% titanium carbide, 15-30wt.% binder and the remainder of the aggregate. Furthermore, the amounts are preferably 4-6wt.% titanium carbide, 20-25wt.% binder and the remainder of the aggregate. The phosphate and the basic metallic oxide of the binder can be used at a ratio within the range of (1:3) to (3:1). The mold material of this invention is extremely suitable for casting a high-melting metal and/or an oxidizing metal according to a lost wax method.