Alvahedi

Common name for an alloy consisting of Hemite (~82%), vanadium (~5.5%), aluminum (~3.5%), and dilith (~9%). Ludicrously tough, yet lighter than ordinary steel.
Name stems from aluminum, vanadium, hemite, dilith being the components, although hemite is ~80% of the end result by weight. Unlike ordinary hemite, alvahedi retains performance at practically all levels of ambient magical energy, the dilith and hemite essentially creating a seal against incoming energies.
The Abyss Dwellers were reluctant to share alvahedi combat equipment with outsiders for obvious reasons. However, export of smaller items was not seen as a problem, as working the material required a level of metallurgy they considered inconceivable to exist outside of their culture. As a result, alvahedi tools such as saws, files, rasps, and chisels became extremely sought after.
The last step of processing an alvahedi object involves magically tempering it to set the dilith. Unfinished blanks, while retaining the extreme hardness and toughness, lack the 'springiness' of tempered pieces due to unset dilith. Most non-Abyssian alvahedi work lacks this final step, rendering it sub-par (admittedly still largely superior to most steels, though deforming over time).
As the hemite and dilith reinforce each others' magical resistance within the alloy's internal structure, ordinary dilith setting is practically impossible: a closed system is created, which inbound magical energy generally slides off of. Instead, the method used for setting the dilith involves collapsing a single-layered superimposition with a highly charged blank. This bypasses the 'outer skin' that ordinary blocks magical input: the magic resistance does not extend to interdimensional phenomena.
By default, alvahedi is a deep crimson similar to hemite. However, this may be modified during the tempering process by adding coloring agents to the charged blank.