To provide a powder or a sintered compact, reduced in friction coefficient in the case of application to machine structural parts, such as automobile parts, and reduced in mechanical losses.

The powder has a chemical composition consisting of, by weight, 1-10% S, 3-25% Mo, and the balance Fe with inevitable impurities and satisfying 1.67S+1≤Mo≤1.67S+7. Further, a solid lubricant powder, such as C powder, MOS2 powder, BN powder, and mica powder, or a powder of wear resistant grains, such as metal carbide grains, metal nitride grains, and metal oxide grains, is added to the above powder, if necessary. These powders are mixed and the resultant powder mixture is sintered. By this method, automobile parts, etc., with low friction coefficient can be produced.