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Here is what we are going to make
Yes, i know. Cheap preview, but it was kind of rushed. Let's get started!
Start off with a grey circle.
Now add a radial gradient to it like this.
Add An Oil Paint filter with The Brush Size Seto to 1, And the Caorseness 50. This is added to make it look more like metal.
Now set the blending to color dodge.
Now to add a little more detail. Make another radial gradient like this.
Set the blending mode to Reflect, and opacity to 45
Now add a line to it
Duplicate the layer and invert colors.Move it one pixel up, then set blending mode to Negation
Done!