Putting a hood over it seems like a good idea, but in actuality it increases the heat so dramatically it literally melts steel before you even realize that's what has happened. Keep in mind, you need to read the steel, by the color, (and at night) so when you enclose a coal or charcoal forge and apply air to it you have absolutely no way of reading how hot you are getting your steel.
Also, not all charcoal is the same. I've made my own charcoal, and no way it looks like store bought stuff.
After re-reading your last post about limiting consumption, it all depends on how fast and how much air you apply, but I'm sure you know that. What I do, rather than actually hooding the charcoal with some sort of metal or refactory, is I simply create a hood with split fireplace wood. In other words, I have a firepit of charcoal with two split logs on each side, and then I place one to two spilt logs over the top. You get a very efficient firepit, and one that needs very little forced air.