If you are refering to the primary wire (coil to points), no, steel-core wire is not the proper wire, even if you can find it. The wire you need is 'test lead' wire, which has a large number of small-gauge strands. It might also be called 'hook-up wire'. That kind of wire is used because of its flexibility. You usually can't find it in the retail market, so most often that wire gets replaced with 'standard' 16 AWG copper wire. If you have a choice in the matter, get wire that has the highest number of individual wires of the smallest diameter that gives about 16 gauge wire. If you find the wire specifications, it will have the format of: number of individual strands/size of each strand, such as 16/30 for 16 strands of 30 gauge wire. That combination results in about an 18 AWG conductor. Electronic supply stores might have what you need.
If you are refering to a bonding wire between the breaker plate and the distributor housing, those are, or should be, available, but you might have to use a Ford or Holley part.
Harvester