Abstract: Disclosed are a cermet alloy having excellent wear resistance and strength at elevated temperatures, and a composite mechanical part containing a strong layer of any such cermet alloy formed on the outer or inner surface of an alloy base.The materials which are used for making rolls, dies, punches, etc. are required to have excellent toughness, impact resistance, high-temperature strength and wear resistances. The conventional ultrahard WC--Co alloys are, however, unsatisfactory in high-temperature strength, through they have a satisfactorily high level of wear resistance. The conventional cermet alloys are low in toughness and impact strength, though they have high oxidation resistance. There has not been availabe any alloy that satisfies all of the requirements as herein-above stated.