I use a wok regularly, mostly for deep frying as it uses less oil then a chip pan or deep fryer. Occasionally used for stir fry too. It said beaten iron on the label when I bought it, not sure exactly what material that would be, something like mild steel I would guess. It will rust if not kept...
I'm baffled as to where the idea that the bowl should not be in the water came from, I guess someone miss heard rather like Chinese whispers. The bowl should not touch the bottom of the pan but should be in the water. If you're heating the bowl with steam your pan is far too hot, your chocolate...