ive seen hacksaw blades mounted to a piece of steel (keystock) used to cut grooves. the thin hacksaw blades cant be used to move back and forth to clean up the bottom but you might have a larger power hacksaw blade. anything that is made of hss and can be mounted to your lathe will work. make sure you use the teeth side of the blade. ( newer blades are weld edge and the back side is just carbon steel and wont work. you could even use an old file ground on the front to what you need and mount it somehow on your lathe and cut your groove. go slow though files are high carbon steel and wont take the heat. any thing that will cut steel will work. bill