A cermet powder includes a) from 50 to 90 wt-% of at least one hard material, and b) from 10 to 50 wt-% of a matrix metal composition. The wt.-% for a) and b) are based on a total weight of the cermet powder. The matrix metal composition comprises i) from 40 to 75 wt-% of iron and nickel, ii) from 18 to 35 wt-% of chromium, iii) from 3 to 20 wt.-% of molybdenum, and iv) from 0.5 to 4 wt-% of copper. The wt-% for i) to iv) are based in each case on a total weight of the matrix metal composition. A weight ratio of iron to nickel is from 3:1 to 1:3.