One of the most well-known Smithing money makers in Old School RuneScape: buy steel bars, smith them into steel cannonballs at a furnace, sell the cannonballs. Live profit per bar below, recalculated from real-time Grand Exchange prices every time this page loads.
A note on the name: cannonballs are now listed per metal, so the item this page prices is Steel cannonball — the one a steel bar smiths into, and the one the standard Dwarf Cannon method uses. The other grades (bronze, iron, mithril, adamant, rune, plus the chainshot and incendiary variants) are separate GE items with their own prices.
Most skilling "profit" methods need a real recipe database to compute — dozens of raw materials feeding into a product isn't something a live price feed alone can answer. Cannonballs are the exception: a single fixed 1:4 ratio that hasn't changed in years, with both ends of the trade sitting right there on the Grand Exchange. That's what makes a genuinely live, accurate calculator possible here without guessing at anything.
▶ Open the full trading terminal on PocketGE4 steel cannonballs, at a furnace, after the Dwarf Cannon quest with 35 Smithing.
(4 × live steel cannonball sell price, after the 2% GE tax) − live steel bar buy price. Recalculated from real-time prices, not a fixed table.