Provided is a powder mixture for powder metallurgy that has excellent fluidity, can be ejected from a green compacting die with little force, and can suppress die galling in forming. The powder mixture comprises: a raw material powder; a copper powder; a binder; a graphite powder; and carbon black. The raw material powder contains an iron-based powder in an amount of 90 mass % or more with respect to the raw material powder. An average particle size of the graphite powder is less than 5 μm. Additive amounts of the binder, the graphite powder, the copper powder, and the carbon black are in specific ranges. A surface of the raw material powder is coated with at least part of the binder. A surface of the binder is coated with at least part of the graphite powder, at least part of the copper powder, and at least part of the carbon black.