Your a terrible smith and I can prove it.
So I just recently reached the point of gathering iron and unlocked the ability to craft iron weapons. With that said I want to draw attention to how much metal is needed to make anything other than nails.
To start I want to say I completely understand that these are balancing aspects in the game.
So first off we will ignore that 10 pounds of copper ore become a 12 pound ingot.
When you first aquire copper they only thing you can make is a copper knife. Sure that makes sense. Now just take 8 copper ingots, wait... what but that is 96 pounds of metal. Ok well what does the game say about the weight of a copper knife... 0.03 pounds.
WHAT happened to the other 95.97 pounds of metal.
The answer is simple you suck at smithing and ruined the metal and tossed the resulting scrap.
This basically goes for everything made at a forge. Look at the cost of a battle axe. 35 iron or 420 pounds of metal, and that's not even talking about your ability to trim the wood for the shaft. You can't even carry the ingredients to make it without being over encumbered.
Your person was a warrior who travelled to this realm and tries really hard to do a skilled task that he had only ever seen someone else do.
However with that said because you don't have a cost of materials when repairing your tools you did have and are very proficient with maintaining your stuff. Basically the kind of thing a warrior would know because you can't always depend on other people to maintain you weapons or ship when raiding nearby lands.