If I may, I'd like to offer some advice on this subject and starting a new fort in general.
I always avoid aquifers. They're a pain and I don't like building my underground architecture around them. At times nearly an entire Z-level is useless because of a huge aquifer. If you need water underground, you can dig a multi Z-level shaft and then divert existing running water into it. (I avoid aquifers, but I always make sure to choose an embark position with a stream or, better yet, a river.)
Next, dealing with the lack of supplies can always be a tricky issue. It's nigh-impossible to find a location that has absolutely everything you need - you'll be short a particular type of metal, or they may be only one type of sand, or there will be very few trees, etc.
Here's what I do and it works really well for me.
My current fort is in a similar situation. I have metals but I've yet to discover them as I'm carefully clearing out the main areas of my fort. I don't dig new areas until the current area I'm clearing out is free of stone and properly smoothed & engraved (if needed). So I have a metal shortage, but I don't want my soldiers running around with training/wooden equipment. Moreover, I have a countess and I can't really do anything about chains for a prison because I don't have enough rope. This is where trading comes in.
Regardless of what I plan to do with my fort, I always have at least two craftsdwarves. Their sole job is to continually pump out rock crafts. I then make a few storage areas that are usually 40x40 (or two 20x20, whatever) to store crafts and only crafts. To make a storage pile for crafts only, create a Finished Goods stockpile. Then, press Q and highlight the stockpile. Press s for settings. Scroll down to Finished Goods (which should be lit up). DISABLE the following options by highlighting them and hitting Enter:
- chains
- flasks
- armor
- footwear
- headwear
- handwear
- legwear
- backpacks
- quivers
- splints
- crutches
- tools
Now you have a Finished Goods stockpile that will only store crafts. (If you make a Finished Goods stockpile near your workshops, be sure to ENABLE the above listed items and DISABLE anything not listed above so that crafts don't end up stored at the wrong stockpile.) It should ideally be placed very near your Trade Depot - it will increase the time for storing it from the workshop but it will greatly reduce the time needed to bring the items to the depot, and you are always on a timer when a caravan arrives.
When your Craftsdorfs are high enough level, they will consistantly produce rock crafts worth *100 and will occasionally put out a masterpiece worth *200+. Always have a few dozen crafted goods on hand, and you can trade for whatever your fort is missing. As a point of reference, Iron Anvils are usually *100 and Steel Anvils are usually *300, and dwarves almost always bring a half dozen of anvils (altogether) unless you request so much stuff that the caravan doesn't have room - so in your worst case scenario you'll manage to get *some* metal every year from the Dwarven caravan, and that's not even counting all the weapons, armor, bolts, etc. Regrettably, some of the metal items they bring can be really expensive (especially early in the game), but if you plan carefully you can probably have a good trading/melting operation going within 3 years.
When traders arrive, buy anything and everything metal. If it's the dorfs, order everything metal that you can - raw ore, armor, anvils, chains, bolts, etc. Buy it and melt it down.
Once you start collecting random metal objects, then you can designate them for melting. Press k and get the cursor over a metal object you want to melt, and then press m. A red M will appear next to it meaning that the object is now designated for melting. You will then need a Wood Furnace to make charcoal. A Dwarf with the "Wood Burning" labor under "Farming/Related" will turn logs into charcoal at a Wood Furnace. After you have some charcoal made, you can then build a Smelter (requiring the labor Metalsmithing/Furnace Operating). Once you have a Smelter built, go to it and run "Melt a Metal Object (o)" on repeat. Your Furnace Operators will continually melt metal items into usuable bars until they run out of fuel or things to melt. (If you want to train up a dedicated furnace operator, then the easiest way is to continually designate the just-melted bars as meltable items. The dwarf will melt the bars, you'll have to re-designate them, etc. It's a cheap way to level up a furnace operator with no loss of material other than the charcoal.)
I hope this helps.