All TVR's are entirely built from tubular welded chassis and control arms. However having owned TVR's for 9 years, the biggest problem with this type of part is the steel corrodes, quite quickly and requires regular treatment. I would also think it would be very difficult to calculate the required wall thickness and yield strength required in the steel. A cast Aluminium suspension arm is quite a strong item. I would be quite careful here, if this failed it would probably right off the car, possibly you with it, and your insurance would not touch it.