Steel shot cartridges at least trap were initially significantly cheaper than lead I think 20% at least. Now they are the same. Certain events ( handicap by distance and gymcrak) can't be shot using steel as there's not enough residual energy as iron is 32% lighter than lead.
copper is about 25% lighter so to retain similar bullet weight you have a longer bullet that may give problems with stability.
Steel may be cheaper than lead but what does it cost to process it from billet to shot?
Exactly, it's much cheaper as I understand it to produce lead shot than steel. The difference as I understand it is the steel is more labour intensive to ensure it's actually round and not odd-shaped - steel can't be dropped and then graded into sizes and/or reject like lead can.
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