Sometimes when we try to solve multi-faceted problems such as this one, we need to know certain bits of information that have we have not been privy to thus far.
For instance, would you be open, as we are, on occasion, to some scrap yard, mystery metal, if the piece is to be, #1 for your own use and, #2 for a low pressure mortar configuration like a golfball or pop can mortar?
If this material is truly from a scrap yard, you must use a little logic to reduce your risk and also to indicate important characteristics such as weldability.
You must ask yourself, what types of metal go to a scrap yard, brand new surplus or used metal as in the case of the machined shafting, such as you described. If the scrap yard you are familiar with buys, as most do, better than 90% used steel, then it is logical to deduce that whatever hardening via heat treatment the piece has will be evident in the piece which drew your attention. Conversely, if by simple field testing described next, you find that the metal is unhardened or 'soft', then it is almost certainly a piece of low carbon steel with good welding characteristics. A simple file test will tell you if the piece is soft, indicating a low carbon, non-hardened metal like 1010, 1018 or 1020 or 1026 steel. The same test will indicate a hardened shaft of alloy steel. Reduced to the basics, does the file 'bite' with moderate pressure or does it 'skate' off the round?
Low carbon steel and good weldability is indicated by the file 'biting'. High carbon as in spring steel or, more likely, a hardened alloy steel shafting is indicated by the file 'skating' off the round's surface.
We build almost all our fixtures out of 'used' steel and some have to take lots of punishment. None have failed yet and we really relish our frequent forays into two favorite scrap yards which we have prowled for the last 35 years. We are graduates of the school of Scrap Yard Metallurgy taught by crusty owners who only reveal their practical metal identification methods after they know and trust you.
Good luck, Double D. The truth is this: You don't need no stinkin, expensive lab tests to determine if that steel is suitable or not. A simple file will do.
Tracy and Mike