Yeah, that's what I did. I managed to smelt over 120 dwarven metal ingots.
The trick is to remember which dwarven scrap can be melted into ingots and which cannot. The ones that can be melted down are:
Bent Dwemer Scrap Metal (it must be bent!)
Large Dwemer Plate Metal
Small Dwemer Plate Metal
Solid Dwemer Metal
Large Dwemer Strut
Large Decorative Dwemer Strut
Good luck!