I think we do have a steel-core variant in the game, and it’s suitably rare as they would’ve be as readily available.
I do wish I knew just how common the AP rounds are in military use relative to FMJ though. About the only source I have to go on are field manuals, and they generally always mention both standard ball rounds and the armor-pentrating version when outlining the types of ammo in use for a given weapon.
They generally don’t mention how often they issue it though. The most info you’ll get is when tracer rounds are used, like mixture rates from MG belts, as well as specifying if an ammunition type is outdated and thus only being used until stocks are depleted.
EDIT: Hahahah. Naturally the first manual I dig up proves me wrong on that. FM 3-22.68 (covering the M249, M60, and M240) lists a steel-penetrator M885 as the standard “ball” round for the M249, along with the M856 (tracer, no penetrator).
EDIT 2: However, the same manual’s section on the M60 and M240 DOES list both the M80 “ball” round and the M61 armor-piercing rounds.
EDIT 3: Also, all this discussion on ammo and I’m STILL the only one to think it absurd that .270 Winchester is treated as a subtype of .30-06?