A cutter is composed of a Ni--Cr alloy containing from 32 to 44 mass percent of Cr, from 2.3 to 6.0 mass percent of Al, the balance being Ni, impurities, and additional trace elements and having a Rockwell C hardness of 52 or more. This Ni--Cr alloy provides a cutter produced with a superior workability and by a significantly simplified process, having a low deterioration in the hardness even when heated in use, having excellent corrosion resistance and low-temperature embrittlement resistance, and satisfactorily maintaining the cutting performance for a long time.