Another vote for adjusting the bore size to suit a commercial piston ring. My traction engine runs on a chain saw ring (High pressure) a Ural motorbike ring (low pressure) and I have just built a much modified Southworth steam pump that runs on a petrol strimmer ring.
Have a trawl round e-bay to see what you can find. If you go for non OEM parts, they can be dirt cheap – probably cheaper than the cast iron bar to make a ring.
For steam work, you can close a ring up slightly if you need to. Make a hollow ring to hold it in, cook the whole lot up to dull red and you will find the gap will close up nicely. A bit like the old trick of springing them open and heat treating, but in reverse!
Martin