Hi Alansimpson,
In the 70's Western Electric had determined that AISI C1008 steel or steel with equal or less points carbon was satisfactory for DC relay frames and cores compared to soft iron used previously for the same construction. In other words, the residual magnetism of this form of steel compared sufficiently favorable to residual magenetism of soft iron for their applications. More exotic but higher performance materials would include mumetal, a nickel iron alloy, and some others.