Lathe chisle steel

[Robert L Sr]

I am in the process of making a wood lathe chisle with an indexable carbide tip. My question is what metal should I use for the shaft? I bought a half inch round piece of welding steel locally but wondered if something like O1 tempered quite a bit would work out better. I want it hard enough to not get chewed up on the tool rest but at the same time not get chipped or break if I slip and catch the piece I am turning.
Not even sure this is on topic but I would appreciate any input.

 

[Jonathans]

I've made wood turning tool shafts (no integral cutting edge) out of drill rod with fine results. My tools were not using carbide cutters but HSS cutters.