PURPOSE: To produce a composite material having corrosion resistance and good conductivity by drawing a corrosion-resistant metallic pipe packed with metallic powder or granules then heating the same to sinter the powder or granules and to anneal the pipe thence subjeting the pipe to finish rolling.

CONSTITUTION: After Cu powder 2 is packed into a Ti pipe 1 at about 35W 45wt% packing rates, both ends are plugged 3 and are drawn, thence the inside is evacuated to prevent the oxidation of the Cu powder 2. Thence, the material is drawn with a swaging machine, whereby it is reduced; further it is heated to about 800W1,200°C. By this heating, the working strains of the pipe 1 are relieved, the Cu powder 2 is sintered, and alloy diffusion layers 4 are formed at the boundary with the pipe 1 wall, whereby the firmly bound material 14 is obtd. This material 14 is finish-rolled down to a desired wire diameter with roller dies or conical dies, whereby the composite material is obtained.