Mild will work ok for a short while. You will need at least 20mm thick as i had a .270 that would damn near punch holes in 25mm thick mild at 200m. My main issue with mild steel is the cratering. The more cratering there is this increases the risk of deflecting bullet splatter at some angle you don't want i.e. back at the shooter. If they are cleaned up and smoothed off a bit then mild works ok...
High hardness steels work much much better - bisalloy, hardox, etc. Get your steel once and get good steel and it will basically last forever.
Old fire hose works great to hang steel targets with. As i improve and replace targets i have i am moving towards using that over conveyor belt (which is also much better than chain)
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