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ZDP-189 and Cowry-X
ZDP-189 is a steel produced by Hitachi and Cowry-X is produced by Daido. I have not been able to find much background information on the development of these steels. Sal Glesser of Spyderco reported he first heard about ZDP-189 around the year 2000 [1], and the earliest reference I have found to Cowry-X on Bladeforums in 2001 [2]. So both of the steels have been around for some time. The fact that two companies released essentially the same product perhaps indicates that the steel was not patented, which means little information would be available about its development. Both steels have an interesting composition with 3% carbon and 20% chromium along with a few other small additions. There are a few different reported compositions for ZDP-189 in terms of the Mo, V, and W content but below is from Spyderco.