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Maybe for wood. Aluminum Oxide, AO, is not commonly used for metal. It wears far too quickly. Zirconia Alumina is more common at the lower grits for metal, up to 220 grit. Norax, or other structured abrasives, cover the higher end grits.
This is the explanation about different belt types from Tracy at USA Knife Maker. It's far better than any explanation I could give.
http://www.usaknifemaker.com/abrasive-belt-basics-what-kind-should-i-buy-p-1393.html
By far the biggest bang for the buck is with the cheaper aluminium oxide belts up into the 36 grit for initial grinding, in my experience. We just compared an $6.00 belt to a $2.00 aluminium oxide belt and the cheaper belt won. I suggest you try both with what you are using and compare them.