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PCBN(Polycrystalline Cubic Boron Nitride) CBN, is a material with excellent hot hardness that can be used at very high cutting speeds. It also exhibits good toughness and thermal shock resistance.
Modern CBN grades are ceramic composites with a CBN content of 40-65%. The ceramic binder adds wear resistance to the CBN, which is otherwise prone to chemical wear. Another group of grades are the high content CBN grades, with 85% to almost 100% CBN. These grades may have a metallic binder to improve their toughness.
CBN grades are largely used for finish turning of hardened steels, with a hardness over 45 HRc. Above 55 HRc, CBN is the only cutting tool which can replace traditionally used grinding methods. Softer steels, below 45 HRc, contain a higher amount of ferrite, which has a negative effect on the wear resistance of CBN.
CBN can also be used for high speed roughing of grey cast irons in both turning and milling operations.
From http://www.sandvik.coromant.com