Background Info: "Directional strength is the direct result of the forging process. In the forging process, controlled deformation results in greater metallurgical soundness and improved mechanical properties of the material. In most cases, forging stock has been pre-worked to remove porosity resulting from the solidification process. This produces directional alignment (or grain flow) for important directional properties in strength, ductility and resistance to impact and fatigue. These properties are deliberately orientated in directions requiring maximum strength. Working the material achieves recrystallization and grain refinement that yields the maximum strength potential of the material with the minimum property variation, piece to piece. Properly developed grain flow in forgings closely follows the outline of the component. In contrast, bar stock and plate have unidirectional grain flow; any changes in contour will cut flow lines, exposing grain ends, and render the material more liable to fatigue and more sensitive to stress corrosion"
From a code perspective, ASME B31.3 (and other design codes) do not always list bar stock materials whereas they typically do always list forging material. Check Table A-1 of B31.3 to see if your material is listed or not. If your specific material is not listed in Table A-1 the client could reject it as an "unlisted" material.