A high-carbon, high-alloy, space-age, stainless steel first used for knives by R. W. Loveless about 1972. At that time it was vacuum melted. After a few years the quality declined and makers followed Loveless to the very similar Japanese ATS-34, using the same formula. The quality has been restored and this steel is not only being used by makers, it is also being used in high-end production knives. Carbon 1.05%, Manganese 0.5%, Chromium 14.0%, Molybdenum 0.4 - 0.55%. It has great edge retention and is considered a premium blade steel. The A.G. Russell Shopmade knives use 154CM steel.