We use CNMG 432 inserts for lathe work. The inserts are not square, but have two 80 degree corners and two 100 degree corners. The 100 degree corners are used for facing, the 80 degree corners are used for turning and boring.
The first digit is the diameter of the inscribed circle in 1/8ths of an inch.
The second digit is the thickness of the insert in 1/16ths of an inch.
The last digit is the corner radius in 1/64ths of an inch.
A CNMG 432 also fits the specs for your insert. They also have a center mounting hole.
The proper radius to use is dictated by the part you are machining. If a flange or shoulder specifies a maximum radius of .020, we could use a 431 insert (1/64 radius) or a 430 insert (not a zero radius, but almost).
The smaller radii tend to wear more quickly. The larger radius inserts (CNMG 433) tend to chatter a bit more. Overall, I'd say that a CNMG 432 insert (1/32 radius) is a good choice for routine lathe work.
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