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My day job involves this kind of material, lifting slings and such, from what I can find, it looks as though the cable is made from this:

AISI 1074 is a Standard grade Carbon Steel. It is composed...

A couple of weeks ago I took a knifemaking class from a local maker who makes knives from cable damascus. So I guess it is possible, I don't have any specifics on what the steel was though.