The only "Grade 50" plate I know of is, A572-Gr50. It is a standard structural steel, with a yield of 50KPSI.
I machine it using standard SFM for milling and turning.
milling: 375-650 SFM milling using 1/2" AlTin, carbide, 4 -6 fl end mills
turning: 500-1020 SFM for turning, insert dependent.
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