Abstract: A material for applying hardfacings to the teeth of steel tooth rolling cutter drill bits comprises a mixture of refractory metal carbide, such as tungsten carbide, cobalt and metallic matrix powders formed into a core structure and surrounded by a thin metallic sheath. The metallic matrix powders include iron, deoxidizers and alloy powders. The ratio by weight of the metallic matrix powders to the sheath exceeds 2.5, so that the core structure provides most of the matrix material for the hardfacing and only a small proportion of such material is provided by the thin sheath, which may have a thickness of only 0.001" to 0.010". The core structure may include an organic binder, such as methylcellulose, to provide strength and to prevent segregation of the core materials.