The best replacement for smithing is enchanting skyrim.

The best alternatives to smithing are rated as following:
★★★★★  enchanting skyrim
★★★★  accessory crafting
★★★★  alchemy
★★★  jewelcrafting maplestory
★★★  alchemy maplestory
★★★  advanced armors
★  dwarven
★  enchanting

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Speaking about smithing, one probably shouldn't forget about potions skyrim.

Other search terms related to smithing and their ratings are:
★★★★★ potions skyrim
★ enchanting
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smithing
enchanting skyrim
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