They used to say that they used a special steel with added chrome and nickel content for Magnum guns. Steels and heat treatments have varied over the years. Author Jan Stevenson mentioned that Colt always used better steel and made stronger guns.
About 1919-1920, S&W began using heat- treated cylinders on .38's, and the Army supposedly insisted on heat-treated cylinders on all M-1917 .45's.
I suspect that different steels are used on different models, and steel in barrels and frames may not be the same as in cylinders. Of course, some stainless alloys are now employed, as well as titanium, etc.
I don't think the compamy has ever released data on their steels. It may be a trade secret.
However, their steels are more than ample to withstand anything like normal pressures.
T-Star