The paper reports an investigation into the forging of a solid powder circular disc with large slenderness ratio(L/D) between two flat dies at high speed. The deformation pattern during the operation is influenced by many factors, which interact with one another in a complex manner. The decisive factors are the interfacial conditions, initial relative density of the preform and the geometry of the preform. An attempt has been made to determine the die pressures developed during such forging, using an upper bound approach. The results so obtained are presented graphically and discussed critically to illustrate the interaction of various process parameters involved.