The steel and Iron profitability has been terrible even since beta. I am unsure why the devs have not addressed this or fixed it yet. It is near impossible to turn even a small profit using a steel chain.
Copper chain to bswords math: (please forgive the basic math and approximations based on a quick glance at the TO while typing this up)
24 hours level 5 with basket buff (1 bsmelter, 2bswordsmiths)
6000 coal and 1200 ore(approx 45gc on TO)= 2400 bronze bars= 4800 bswords= 130gc approx on TO (minus basket costs)
24 hours level 5 with basket buff (1 ismelter, 1ssmelter,2sswordsmiths)
16800 Coal and 2400 iron ore(approx 365gc on TO)=1200 iron bars=1200 steel bars=1200 steel swords= which is approx 300-350gc on TO(minus basket costs)
As you can see bswords are profitable and steel is not... In fact steel is actually at a negative production rate and you would be better off scrapping the idea of having it on your island all together. Not to mention the cost of upgrading bronze compared to steel is completely different. Steel chain will drain massive amounts of gold granite and other resources while it is easy to upgrade a bronze chain with almost no effort at all.
Something needs to be changed in the production rate or the math of the steel chain.
Devs have been overlooking this since beta and I think its time they had a better look at things.
If you want you can hire me part time as a consultant to teach your staff about math and its practical use in regards to actually application of game play.
I am not trying to be rude about this but this is not the only mathematically non profitable chain in the game. The entire system is a little screwy and has not been addressed since beta. People who have completed their islands and achieved level 50 would actually have something to do if chains like steel or higher end chains were more effective and profitable for the MASSIVE upgrade costs associated with them.
My hope is to continue to better this great game.
Thanks,
Everlynn