Alas, true Damascine (Damascus) steel is lost to the sands of time. What we have today is actually, as mentioned above, pattern welded steel. There has been considerable research gone into recreating it (research Wootz steel and similar). Steels and metals are chosen for appearance mostly, in today's pattern welded steel. Sometimes nickel is used to create bright bands which are usually kept away from the edge of the blade as nickel is non-hardening.
Also, as stated above, Damascus is used more for decorative reasons than anything else. I have a few blades in Damascus and they are very pretty, but I wouldn't really use them for any real work - even though they are fully capable of it, to be certain. With use, the pattern becomes less distinct requiring re-etching or refinishing - which isn't particularly difficult, but time consuming nonetheless.
In researching Damascine (Damascus), Wootz and similar steel, I have concluded that they are a byproduct of ancient material refinement more than by design. Modern steels far outperform any ancient steels, as far as I know. But, it is a fun and exciting area of research!
Also, as stated above, Damascus is used more for decorative reasons than anything else. I have a few blades in Damascus and they are very pretty, but I wouldn't really use them for any real work - even though they are fully capable of it, to be certain. With use, the pattern becomes less distinct requiring re-etching or refinishing - which isn't particularly difficult, but time consuming nonetheless.
In researching Damascine (Damascus), Wootz and similar steel, I have concluded that they are a byproduct of ancient material refinement more than by design. Modern steels far outperform any ancient steels, as far as I know. But, it is a fun and exciting area of research!