Aluminum will make a good bushing and is soft enough to turn on a wood lathe.
NOW for something that is not spoken of much here - in spite of what many people say - you do NOT have to have 60° dead centers or live centers if you use standard commercial bushings to turn TBC.
. . . But if you use the standard bushings, you don't have to do that. I started my TBC back in '08 by making my own non-60° dead drive from aluminum and using standard bushings.
So you are saying just chuck the normal bushings between my dead and live centers and turn away? This be close to the same accuracy as the 60 degree ones?
Accuracy - THAT is another subject! Johnny's ARE Accurate! Commercial are up for grabs on accuracy. Some are, some are not. Before getting Johnny's I always ordered two sets of bushings and checked them with calipers. With two sets, I usually could find 2 of the 4 that were very close to accurate at the least. Qualifying this - I lived in Japan until Dec of 2010 and as such it would have cost me more to send back off center bushings than buying two sets to begin with, so I did that. Some people might check and send back a bad set (or one) if they check and find it off center, but for me even now in the States, it is easier just to order two sets at the beginning.
The difference between Johnny's and commercials is that Johnnys will ALWAYS be right on and Johnny's will fit snug in the tube and not loose as commercial ones do. That looseness will cut down on accuracy also.
Back to the commercial ones as I mentioned - I know that they may not be as accurate as John's, but since I "know," I compensate by watching and measuring repeatedly. If I find inaccuracies of .003 or .004 or more in out of round or off center, I will usually discard that bushing. While I cannot find the articles now, I remember reading that skilled fingers can "feel" differences of something like .001 changes. So a pen off center or out of round will be able to be noticed by a person who knows what to look for (or feel).
IF you cannot get the bushings from John, measure what you have by using calipers and measure the hole to the outside of the bushing at several points around the bushing and then again on the other end. This will tell you how accurate your commercial bushing is relative to the hole being in the center of the bushing. But you need two bushings (or in some cases 4 bushings as in a Cigar pen). IN the case of Cigar, before I got my set from John, I purchased 3 sets of commercial bushings for it and found a good enough match to work on them. They still did not fit as tight as the one's that I eventually got from John.
When you can, get some from John, but if you can't don't let that stop you from turning.