You’ve got a lot of gun powder but don’t know what to do with it? Read this guide.
Guide to Use Gun Powder
Assuming you’re playing through Chapter 4 of Wintermute, you won’t be crafting ammo. You can use gun powder to craft more noisemakers, which is the main reason there is so much of it in Episode 4.
In Chapter 4 you can have empty shells, gun powder and lead scrap but you are missing the lead forge and ammo workbench, that is available only in Canary of Bleak Inlet map.
So, no in Story Mode EP 4 you can’t make bullets or other things.