PURPOSE: To produce a rolling roll small in uneven wear and excellent in surface roughening resistance by forming the compsn. of the external layer material of a roll of a specified high C-Fe-Cr material, suppressing the formation of M6C type carbides and dispersedly precipitating M7C3 type carbides.

CONSTITUTION: The compsn. of the external layer material of a roll is formed of a centrifugal casting material contg., by weight, 1.0 to 2.0% C, 0.1 to 3.0% Si, 0.1 to 2.O% Mn, 2.0 to 10.0% Cr, 0.1 to 10.0% Mo, 1.0 to 10.0% V and 0.1 to 10.0% W, furthermore satisfying the condition of Mo+W; ≤10.0%, and the balance Fe with inevitable impurities. This external layer material and an internal layer material constituted of cast iron or cast steel are welded and integrated by a centrifugal casting method to form into a solid or hollow composite roll. Or, it is possible that the external layer material is used as a sleeve and is assembled integrally with a shaft material by a shrinking method or the like to form into a roll.