Here's an article on that very subject.
Quoted from the article:
Material choices for guides are down to two distinct types - cast iron and bronze. Yes, cast iron. NOT steel as described in many adverts and by vendors. Never have been, never will be. These are as fitted to the various A-series cylinder heads as standard in all applications. Cast iron is used because it is a very dissimilar metal from any used in valve manufacture - important to eliminate galling that causes seizure of the valves in the guides - is softer, yet resilient enough to wear well.
The entire article is here:
Valve guides - Materials and usage
