Smithing XP and Profit

Some simple math on leveling up and profit margins for Smithing in Mount & Blade II: Bannerlord.
Guide is WIP and subject to changes.

Please leave comments correcting mistakes or adding new information as the game is updated.

Introduction

As a veteran of games such as Factorio I've learned to delve into the math of crafting systems.
Mount & Blade II: Bannerlord has such a system with Smithing, turning Iron Ore and Hardwood into various purities of Iron. I'm making this guide in my own time using the data I calculated and gathered through experience in the game.

This guide is designed assuming that you've explored the Smithy and understand the layout.

Smithing Essentials

In the trade menu of each town you will see two important resources listed: Hardwood, and Iron Ore.


Hardwood can usually be bought in towns or villages for about 15 gold on average (with decent Trading skill) while Iron Ore can be bought for an average of 60 gold (with decent Trading skill).
You will need a LOT of Hardwood if you plan on getting into Smithing. Explore your area of play for villages that produce it a lot and shop around. The villages will tend to sell it to you for about the same price as the town it serves will.

Once you have a fair amount of Hardwood you can start refining it into Charcoal. If you have not already done so, choose the Efficient Charcoal Maker perk. If you did not start at 25+ Smithing, I would advice putting numerous Focus Points into Smithing as it will speed up the first few levels much more.

NOTE:
Making 1 Charcoal nets you 15 Base XP regardless of the recipe you use. You will make orders of magnitude more Charcoal than you ever will smelt Iron Ore so keep that in mind.

Refining Iron

Once you have Charcoal and Iron Ore you will refine it into various purities of Iron.

Crude Iron = 9 Base XP each
Wrought Iron = 18 Base XP each
Iron = 27 Base XP each
Steel = 63 Base XP each
Fine Steel = 144 Base XP each

Skill gain modifiers from Focus Points and your Endurance stat change this to a max of x10 at character creation with 5 in END and maxed Focus.


Now if we look at profit margins for selling crafting materials with a Trading skill of about 40...

With Efficient Iron Maker, 8 Iron Ore and 322 Hardwood can be made into 21 Steel, 1 Iron, and 1 Crude Iron which can be sold for about ~6,486g. The raw materials bought at 50g per Iron Ore and 15g per Hardwood costs about ~5,230g for a total profit of ~1,256g.

With Efficient Charcoal Maker, 12 Iron Ore and 248 Hardwood can be made into the same 21 Steel, 1 Iron, and 1 Crude Iron sold for ~6,486g with a profit of ~2,166g with the only downside being that it takes an extra 2 minutes of your life (which is peanuts considering this can take almost an hour).

Considering the substantial gap which can only get higher, it's still much smarter to take Efficient Charcoal Maker until the game has been rebalanced (if it does).

Smithing Stamina & Companions

In the bottom left corner of the Smithy you will notice your character's portrait. If you hover over it, the tooltip will show you what your Smithing level is and your current stamina.


If you click on it you get to pick between your character and any companions in your party.
This allows you to smith using their stamina and their perks. This means you can actually take every perk and even have multiple people making charcoal every day.

NOTE:
The stamina costs of Smithing actions appear to be:
Refining materials is 6 stamina per action.
Smelting weapons is 10 stamina per action.
Smithing weapons appears to have a stamina cost based on the materials used.

[Tarkus]

Very handy guide, I really underestimated smithing. I just thought it would be sort meaningless but these weapons can get really, really good. And also the weapons you want. I personally for example like Sabres, Broadswords and Falchions a lot more than regular swords (I find little use for thrusting attacks). This way I can get exactly what I want, too bad Armor and Crossbow/Bowmaking are not a thing like this (yet?).

A quick tip from me, I find Looters can be a very easy "free" source of Hardwood, since they drop a lot of pitchforks which smelt down for 3 Hardwood for 1 coal which can be turned into 3 coal with the efficient charcoalmaker perk.

[Medium Jim]

Legit did not know you could smith with your companions, thanks for the guide man.

[Gelti]

Im currently in 1.1 beta branch and if you smelt a rake (wooden spear tip) it only costs 1 wood, it also gives 1 wood when smelted, this lets you smelt indefinitley as long as you have coal, giving recipes and exp

[Sirisma™❸]

Sounds interesting. I was under the impression that the XP gain was based on what material you get back but I'll try to confirm that later today. I'd like to know myself seeing as I've started buying workshops and I'm curious as to cost. Thank you

[theclimbto1]

A request. Can you break down individual Weapons and list the XP? Maybe it's something common, like ALL Tier 1 give "X" XP, ALL Tier 2 give "Y" XP, or maybe it's based on Tier AND Weapon Class, like 2H gives more XP than 1H, than Dagger, etc.

I'm at the point now, for Levels and Money, that I swoop into a town and simply buy every single Melee Weapons, then break them down. Do this is Cities with a Blacksmith in place, as the Iron you sell back to the City will be turned into Weapons all over again.

I built a Blacksmith in Husn, after I was given Husn as a Member of the Empire in conquest... and have since turned it into an insane money making venture despite not having super cheap Hardwood around (though time to time I leave to buy all the 20 and Under Hardwood on the map to feed the beast).

[Official_Hawkeye]

In my tests so far crafting weapons net you way higher xp from smithing, than just making materials... soo instead of selling the raw materials one should smith the highest difficulty weapon 1 can make. (Higher difficulty= higher xp gain) Then melt the weapons and remake them. You wont get back all the resourches you us when melting ur own weapons, but it helps. Even tho it costs more stamina to craft, than to make materials, the xp gain is multiple times higher depending on difficulty. Doing smithing for profit seems unoptimal, as simply making a few quick buck tradeing, as well as doing a few quests gives you the money to have good passive income. The goal of smithing should be to gain xp, to make the weapon of your dream that is better than the store stuff/ better looking.

TIDRL: if you like doing smithing for profits, do go ahead, but there is easier ways to get money, and not focising on profit, and instead crafting/uncrafting weapons wil boost your xp gain.

[MeAndMeVSU]

Thanks I've really enjoyed this guide. I am curious though I'm debating if I want to upgrade smelting skills or unlocking new recipes. I'm tempted to keep an assistant for this purpose but I would kinda like to send them all off in caravans if I don't have room for them in as an army.

What have others been doing? I've currently got two assistance and I may just keep all my guys as assistance until I start getting ready to break off and form a kingdom. (I'll probably set up my armies with some head start so that they can get their armies ready for the challenges ahead.)

[♢Gotomtom]

Idea, get the perk to farm charcoal (3 hardwood for 2 charcoal) buy the wood for no more then 30, meaning you spend at most 90 to make 2 charcoal. Sell the charcoal for at least 50, sometimes even 60. This way you can level your character very early game, before you have the financial means to waste. Not much of a profit but a lot of XP.
This is the lazy no brain way of doing it I guess.

[Sirisma™❸]

Sumpter horses and mules both carry 100 weight. Sumpter horses are also much cheaper. I bought them for less than 30 gold in my current save.

[Jeff2457]

Keychain, mules are better for carrying weight. Horses only carry, I believe, 20kg, while mules can carry 100. Horses help movement speed(mules do not), Mules help with carry weight(Horses do, but a significantly less amount)