About the only thing I could find in 1.25 round bar was in 1045.
However, I checked on McMaster Carr's website and they have a metric shaft in 30mm OD and 400mm length made out of 1070 steel for about $20. Close to the OD you wanted. McMaster Part #1482K51.
My only other suggestion is maybe consider using O1 instead of 1074/1075. It seems to be readily available in 1.25 OD. McMaster Part #89905K171 for $13.01.
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