We are talking about electrical conductivity. Iron is already a bad conductor and when you mix it with carbon to make steel and stainless steel its terrible. Hence your hot terminal Jules. Ohms law says P (watts) = Amps x Amps x R (resistance/conductivity). So immediately the higher the R the higher the P (heat). Copper is right near the top and generally the best easy to get low cost and high conductivity, and if its tin plated a little it reduces oxidation and corrosion.