US and foreign Military small arms ammunition specifications routinely specify guilding metal clad steel jacketed bullets. Throughout much of the Korean War thru post Vietnam War era, 7.62x51 NATO, .30 M2, .50 BMG, .45 ACP, .38 Special, and M1 Carbine bullets were made of lead-filled mild steel "copper" plated jackets. The steel used was thin and relatively soft, like that on a "tinned" can, but was readily detected using a magnet. These alternative specs were developed for wartime manufacturing to conserve strategic materials like copper.
Extensive firing of steel-jacketed bullets will result in more bore wear, but for anything less than heavy competition practice or machine gun use, the difference in barrel life between steel and non-steel jackets is insignificant.
HTH
John