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Is there any reason why steel roof shingles can't be used as siding? The weight is not an issue, so any other reason?
Should be no more problem with that than steel siding.
Perhaps there's no warranty coverage for a vertical installation but otherwise I can see no issues. And even that might be OK with the manufacturer. Shouldn't be or cause any problem so long as everything is correct underneath it and you've got a plan for handling the fenestration openings.
If you are not concerned about how it will look, go for it.