I think you're doing a good job, but the one thing that I'm noticing that might help, is using less colors. That's not to say you always have to use less colors, but for such a small Sprite it's difficult to get the effects that you really want when it comes to shaving or Texture or material study.
Something that another pixel artist help me to realize early on is if you zoom out and colors start to blend and become one color, it might be a good idea to consolidate those two colors into one. That can help you see which colors to keep as highlights, midtones, and shadows, particularly on small pieces.Don't give up! Keep looking at different metals and keep searching other artists to see how they do the effects that you want to get. A lot of times that may show you what you're doing wrong. ("Wrong" as in "not the desired result". It's hard to say something is "wrong" when considering all pixel art techniques because many styles come about through experimenting with different techniques. If it's working then do it!) Metal can be such a pain! So I feel for you. You do have a really nice idea of character design. Nice use of 45 degree and vertical and horizontal lines. Keep using those things to your advantage, too.
Thanks for the feedback Runner, I will try to cut down on colors and see if that helps readability.