In a method of producing an iron-based alloy containing chromium carbide, pieces of cemented carbide are added to an iron-based melt containing carbon, e.g. cast iron. Chromium, which regulates the solution of WC into the melt, is also added. The molten alloy is then cast. An alloy comprising chromium-tungsten-carbide in a ferrous matrix is produced. Uses of the alloy are claimed.