A picture or drawing of the part should help.
One process for forming and punching a part like this is using a progressive die in a punch press. Typically, the first stage is to start the stock strip with index holes for alignment in latter stages and if possible, knocking out relief or required sections that allow the part to form without distortion or as planned distortion. Only after the part is complete, will it be trimmed from the stock.
The drawing process takes a controlled reduction in material cross section within the blank. As the material thins, it must flow from within the blank and support material holding it stable. Blanking 1/2" disks makes it very tough to hold and allow flow. How much of it is support material?
The next process would be more like coining and takes a whole bunch more tonnage if it can be done in one shot at all.
DC
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