Citadel Iron Hands Steel Base paint is designed to give a smooth, solid steel color over an undercoat and for that reason this will almost always be the first paint you use on a miniature. Shake the steel paint before using (you can make this easier by adding an agitator ball).
The steel paint can be a bit thick sometimes and then you just add a few drops of water on your pallet. You really don't need a lot of water. Something to watch out for is to make sure you don't apply too much paint so that you don't start hiding details.
Another important functionality of this steel paint is that it not only covers the underlayer, but also covers other colors. So if you later miss something about this color, you can easily paint over it with this Iron Hands Steel base paint.