There are numerous metals in Avalon, many of them mined by players - some of them gained by trade - others created through Labours skills. Most can be used interchangeably for their various practical functions, like forging weapons and armour, making fortifications, etc. Some are specific to certain crafted items, e..g. a silver ring will always require silver ore to create.
There is a rough hierarchy of metal/forgeworthy ores and this determines - in the case of forged weapons and armour - the base strength and resilience of the finished product. See HELP FORGING for more information on making arms (for those lucky enough to have the appropriate specialist skills).
In order, from weakest to strongest, we have: TIN, GOLD, SILVER, COPPER, IRON, BRONZE, YARRIOL and finally ADAMANT. Although not strictly speaking a metal, adamant is used in forging and smelted as an ore - thus it is treated as if it were one for the purposes of weapon and armour making. The stronger ores tend to be more expensive and sometimes more rare, though a tendency on the part of smiths to focus on the top-end of the market can make it easy enough to source weapons/armour of the highest quality construction; just spend a little time looking through the stalls and shops or contact a suitable smith directly.
See also HELP MAGNETISM for info on the magnetic attraction of metals and how it might affect your freedom of movement.