This tool could be considered a “kind of chisel”. It is used for forming grooves with flat bottoms and also for projecting dowels or spigots. It is used for making tight convex curves or beads. It is used for truing up and cleaning up the end of a cylinder. It is used for making VEE cuts for chuck spigots, decoration or marking out. It is also useful in faceplate work for making recesses. I enjoy this tool on my spheres!
The CPM10V material on this tool makes it exceptionally resistant to wear. The steel is atomized and compacted, resulting in an extremely homogeneous structure and dimensional stability.