Smithing: Levels 1 to 10 Level 9: Iron Mat 1: Hematite x20
Though this looks like a lot of work, Iron is usable in the next levels. If there are any excess, you can even convert these to island items. You'll need tons of pickaxes and patience. Chance to get more than 1 iron.
Level 10 to 21 Level 20: Iron Powder Mat 1: Iron x1 Mat 2: Bent Pickaxe x10
Again, it looks like more work than other recipes - but let me tell you it's going to be worth it. The Bent Pickaxes will be NIGHTMARE but you'll get through it. Iron Powder will be usable in the next levels. The recipe creates 2 to 6 Iron Powders. SAVE THE IRON POWDERS for higher levels.
Level 21 to 22 Level 30: Iron Plate Mat 1: Hematite x10 Mat 2: Iron Powder x1
You'll have to use some of your Iron Powders here, but no worries. You'll have plenty left.
Level 22 to 33 Level 32: Wrought Iron Mat 1: Hematite x20 Mat 2: Damascus Steel x3
More mining, more fun. Keep the Wrought Irons. They will be necessary later.
Level 33 to 43 Level 33: Metal Fitting Mat 1: Iron x2 Mat 2: Iron Powder x1
See, I told you we're gonna use the powders again. At this stage, if you run out of Iron, you can already mass produce them.
Level 43 to 53 Level 53: Wrought Iron Mat 1: Broken Blade x1
These are common from Zolban boss. You can hire some leechers to finish the job faster. Keep the Wrought Irons again.
Level 53 to 63 Level 62: Damascus Steel Mat 1: Giant Fist x3
These are uncommon drops from Maton where Tritail is. DO NOT THROW AWAY HIS COMMONS, you'll need them in the next 10 levels.
Level 63 to 72 Level 72: Soft Iron Mat 1: Broken Engine x3
Yes, these levels. LOL.
Level 72 to 82 Level 81: High Mythril Required: Chasing Level 30 Mat 1: Damascus Steel x25 Mat 2: Mythril x5
Oh boy, this is the level you can finally start making money from prod. You can easily mine these outside of Port Spargas. Make sure to empty your inventory and buy 35 stacks of pickaxes. There will be lots of surplus Mythril you can sell for some cash too. High Mythril sells really well too. KEEP THE MONEY FROM THE HIGH MYTHRILS. You'll need the money.
Level 82 to 88 Level 89: Adamantine Mat 1: Broken Rod x3
These are common from Gankaku boss. Make sure to bring your leechers with you.
Level 88 to 95 Level 98: Hihiirokane Mat 1: Mythril x20 Mat 2: Orichalcum x5
Remember the money you made from High Mythril? I hope you kept it because we're gonna do some spending. Orichalcums are abundant in Rokoko. Don't worry about losing money though, you can sell the Hihiirokanes to get your investment back. Chance to make more than 1 Hihiirokane.
Level 95 to 106 Level 105: Ceramic Mat 1: Silver Armor Bit x2
Mezza commons drops. Product is useless. Straight to NPC!
Level 106 to 117 Levels 114 and 116: Earth Geiser and strengthening. Mat 1: Gnome x3
Mat 2: Pointed Big Claw x2
Commons from Captain Beelzem and a bunch of mining products. Get yellow raw stones to convert to gnomes. Easy peasy. Now you have the option to keep doing these things or start with Chisels. You will need Chisels in the next levels.
Level 117 to 119 Level 118: Chisel
Mat 1: Cracked Iron Plate x2
Mat 2: Hot Rockshard x2
Common drops. Shouldn't be too hard. Keep the products.
Level 119 to 124 Level 123: Iron Plate Mat 1: Cracked Iron Plate x3
Mat 2: Chisel x2
Use the Chisels from few levels earlier. Make more if needed.