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In industries, low carbon steels are extensively used in cup drawing, because of their high inherent ductility. Because of low carbon content, these steels cannot receive heat treatment, resulting low strength, constricting their range of applications and demanding for a tryout of medium and high carbon steels as alternative high strength grades.1) Medium carbon steels, carbon content 0.30 to 0.60%, are mostly used in general engineering applications. Heat-treatability makes these steels applicable with moderate strength and toughness. Inherent low formability is the main limitation of these steels. In these steels pearlite lamellar morphology imparts undesirable mechanical properties, whereas globular cementites in ferrite matrix improves cold workability.2) Sheet metal works are dependent on their basic formability characteristics. Formability depends on strength and ductility.3) Strength decides the size of the machinery, while ductility determines the deformation ability of the material used. For a defect free product, it needs to maximize Formability of Al-killed AISI 1040 Medium Carbon Steel for Cylindrical Cup Formation