Painting steel siding is something we do every year. Many people are not sure if it is something that can be done but it can be under the right circumstances. We normally do a simple test to determine if it is wise to do. It’s easy to do. Take a rag and wet it with MEK. Wipe the surface of the siding. Rub just a little bit. If the color on the siding comes off onto the rag, you have a good candidate for painting.
Priming is necessary. We use a bonding primer. XIM 400 is a great choice. You can also go with an epoxy primer but I like the XIM. After the standard prep, like power washing. A light sprayed coat of primer is sufficient.
A quality latex top coat is the next step.
The coatings on steel siding tend to chalk over time. When you are doing your initial inspection, look for signs of chalking. Run your hand over the siding. If your hand is dusty/chalky. Then you will want to be sure to incorporate a good cleaner with the power wash. I like Simple Green. It works well. Be sure to rinse a couple times.