Rutile coated electrode for hardfacing welding of parts, subjected to high metal-to-metal wear, compression and impact at elevated temperatures. Due to it's Cr and Mo alloy content, has high mechanical strength, toughness and thermal resistance to operating temperatures up to 550° C. Especially designed for hot and cold cutting tools, hot shear blades. Electrode can also be used for production of new hot and cold cutting tools and their edges, which are made of low alloy steels. Has excellent welding properties, a stable and regular metal drop flow, good weld appearance and very easy slag removal.