the metal become oriented and in metals in which flow lines can be developed by known techniques the flow lines show uninterrupted material flow around the corner 62 of the punch 31 the side wall 42 develops in full contact with the side surfaces of the punch 31 and the cut out opening 33 of die 27 because the side wall 42 is being laid upon the opening 33 as it is being formed there is no relative movement between cut out opening 33 and the depression wall 42 and the process does not suffer from the harmful effects of friction on this surface it is therefore permissible to exert on punch 31 and counterpunch 34 all the pressure required for forming the depression 41 and in contrast to other processes such as described in prior u s pat no 3 757 718 no tension is imposed on the material of the wall 42 also because of laying the wall 42 during its formation onto the cut out opening 33 friction reaction is minimized or eliminated and there is no need for the plate 15 to rise as is required as in prior u s pat no 2 909 281 furthermore no separation between wall 42 and cut out opening 33 is necessary in contrast to prior u s pat no 3 303 806 application of a lubricant which is well known in the metal working art is desirable to facilitate lifting of the depression 41 from the die 27 and also for reducing.