Updated it to cycle the furnace and swap to red ammo.
Updated it again to add a constraint to not make steel unless there is 100 iron available.
Updated again to prioritize putting the best ammo on the belt to turrets.
Switched furnace to a stack inserter capped at 15 to reliably switch away from steel.
Update, cut some weight making it a bit more compact. Now minified a bit.
Another dumb ship, but has logic to stop when full and cycle between recipes. The buffer of pipes alone wasn't enough for advanced asteroid processing, so I had to add a middle tank. Timing could be tweaked for increased performance. It's shaped like a tomahawk because why not. It is quite maintenance free if flown between beginning planets.
Tweak the bottom right decider combinator for how long to turn the pumps to the thrusters on. I only set up 3 intervals between 1500 ticks.