If the welds are good there is no problem. I've heat treated a lot of mechanical damascus blades using various ferric materials, as well as ferric material + nickel. I've heat treated keris blades using the same types of materials, I've heat treated one keris blade and a number of knife blades that used meteoritic material, and the only failures in weld joints I've ever had were two or three very early blades I made when I was still learning.
If the weld is good there is no problem with a heat treat.
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