Iron is blue grey. Swords are usually a mix of iron and steel. Steel is more 'silvery'... shift the iron colour more towards white. Made reflective, your blade is currently looking OK for steel, or add a touch of blue.

Steel IS iron (iron mixed with a pinch of carbon), so I doubt anyone could tell the difference between iron and steel just by looking at it. Swords are steel, because iron, on its own, can't be heat- hardened to hold an edge. Remember that any metal using any fancy shader in any renderer is going to look shite unless you give it a nice environment to reflect. And it's going to look different in a different environment.

And this text input box is STILL BROKEN!!!!!