High speed steel tool bits are used on metal lathes, same steel as used for wood turning.

I made a bunch of ferrules from a chrome plated steel tube. I chucked a piece of wood in my 4 jaw and made an inverted cone hollow in that for a drive chuck, and used a cone center on the tail end.

Running at 800 rpm, I made a series of V notches in the tube using a old carbon steel diamond parting tool on its side, deepened them with a fine tooth hack saw, then stopped the lathe and cut off the pieces with the hack saw.

Yes, chrome plated steel is hard on carbon tools, that is why we have grinders.

I sanded the ends on sandpaper stuck on a block held in the 4 jaw chuck. After gluing the ferrule on the handle I remounted between centers and trimmed off the extra ferrule with a Marples carbon steel wood chisel, keeping the tool rest about 8mm from the part.

It sheared off the steel quite smoothly and surprisingly did not dull the chisel much.

A little rub with some 320 grit to round over the end and I was finished.

I have done the same with salvaged copper pipe.