This invention provides a composite product and an effective method for producing the same, based on an SHS or intense heat producing process. Said composite essentially comprises either (1) one or more skeletal structures of three dimensionally joined pieces of at least one ceramic material selected from carbide, boride, nitride and silicide of titanium, zirconium, tantalum, niobium, silicon, chromium, tungsten, and molybdenum, and metallic material of alloy and/or intermetallic compound which fills the gaps within each and between adjacent skeletal structures, or (2) a matrix consisting of SHS products of metallic and/or ceramic substances, and particles of superabrasive selected from diamond and high pressure polymorphism of boron nitride, which are held and distributed in the matrix in the whole, in the surface or surface area comprising the portion corresponding to the end working face. Also effective is the use of superabrasive particles coated with metallic and/or non-metallic materials by some specific techniques.