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Benchmade has been using the correct nomenclature. They've been using 154CM.Does BM use cpm154 and just not use the proper nomenclature? Apologies if way off.
I'm always wondering how much price difference there really is when it comes to volume purchases from the big companies. Like how much difference would there really be between say a PM2 in S30, S35, M390, 20CV or LC200.
Aside from the bulk price, there's also the cost of machining. For example, the cost of the additional abrasive belts required are likely factored into the prices of Spyderco's S110V offerings, and I imagine that holds true for any other high-hardness steels.
154CM is, if my understanding is correct, notably easier to machine than S30V or M390 - so, even if they got S30V or M390 for the exact same price as 154CM, they would have to charge more because it would take more time and materials to produce the end product. Even the bits that they use to drill the holes and the wheels they use to bevel edges would wear down some appreciable amount more per knife produced.
I imagine the price difference in knives made from LC200N and other less-common steels largely comes from the combined effects of (1) smaller material orders being less cost efficient and (2) justifying the cost of a separate production line.