Raw materials from different sources, produced by a given process and having equal chemical composition, are supposed to be equivalent. The differences in sintering behavior have been investigated on P/M steels obtained from four diffusion-bonded powders (Fe + Ni + Cu + Mo) on atomized iron base, at the same alloy contents. Two levels of carbon and two sintering conditions have been investigated. Dimensional changes, C content, hardness, microhardness pattern, universal hardness, fractal analysis, pore features, microstructure features, and rupture strength have been compared to characterize different raw materials. The results show that the claimed equivalence is not confirmed by experimental data.