Chuck, wrought iron is a unique material and was once the only material for blacksmithing, other than some steel that the blacksmith could make by infusing carbon into iron or aquired by recycling.
Its made up of bundles of linear strands, which although fused together, are recognizable as separate. This gives the material similar characteristics as wood since the direction of grain of the iron needs to be considered when making and designing an object.
It was, and still is, used by the blacksmith for general non-hardening applications. Hinges, latches, chain, etc. When a cutting tool was made, which had to have the hardenability along the edge, often a steel "bit" was welded into the iron body of the tool to serve as the cutting edge.
As an example, here is an axe before the bit was welded and after. The body is iron and the bit is steel.
Here is a bar of wrought that Karl cut from an old bridge and it shows the end grain layering and bundling of the fibers even though this is not etched. Notice that there is small voids here and there. This is also very common in wrought.