I have all this iron lying around and I don't have a use for it. I don't want to refine it, because I might just need it. I have a couple ideas. Enable crafting shurikens out of them. I love spamming those everywhere when I get them. The only place I've seem them is on ice planets, and I also get snowflakes from there, which I also make shurikens out of. I think you should also be able to turn ice or snow into snowflakes, but that's neither here nor there. Add shotputs. They are thrown a short distance and follow an arc, and can roll down hills, damaging things based on how fast they roll.
I sell it, it sucks that copper is more needed then iron, maybe if there was late game stuff that needed steel?
i believe throwing stars used to be craftable (with iron just like you've suggested), but that was removed for some reason.
I think it'd be cool if they added a new vehicle(s) that required vehicle parts made out of iron and other materials to get.