Here you go, check this link and look at the section called "
Quick RPM/Spindle Rate Calculations: Lathe, Mill, Drill". The chart shows speeds for HSS. For carbide, increase RPMs by 2 - 3 times (2.5 is the number I use for normal finish, 3x for high finish). Keep the feed rates the same.
Because you'll need high RPMs, carbide is most effective on pieces 1.5" or better. Also, pieces 1/2" dia or below tend to deflect quite a bit because of the increased pressure needed for carbide. Carbide prefers cuts of at least 10 thousandths inch. Lighter cuts prevent the bit from fully engaging the material and the cut will be rough and ugly.
http://www.southbaymachine.com/setups/cuttingspeeds.htm
It's a good bet that your hot-rolled (HR) is low-carbon but there's no guarantee. HR and cold-rolled (CR) are treatment specifications. Hot rolled means the steel (which could be low, medium, high carbon or alloy (aka 4140 etc)) was formed into shape while it was glowing red and allowed to cool. It sags a little while that hot and therefore has surface irregularities. On the up side, it has less internal stress.
CR steel was formed into shape when the temps were much cooler (about 900 degrees) then rammed through presses or dies to give it it's final shape. The surface is much more even that way but, since the cooler outside of the metal was formed while the inside was still much hotter, it causes surface tensions. Often times, CR steel deforms and deflect a good bit while your turning (lathing) it.
For this reason, I prefer HR steel even though the outer surface is irregular.
Ray