I have a need to cut a groove in a piece of 5mm rod that is .030 wide and .030 deep. I also need to be able to cut the 5mm rod off at a specified length. I'd like to find a tool with replaceable blades or cutters I guess is more correct. Need to cut 1018 and 303 stainless. Can anyone point me in the right direction? I would be doing this job on my mill, with the cutter held in the vise and the stock held in the spindle with a 5mm collet. If that makes any difference.