To start this tutorial create a new canvas, if you haven't already at 500 x 500, with black as the foreground. Then go to Filter in the main menu and highlight "Render" then click "Lens Flare," with the below settings.
Click "OK" and you should have the following image.
Next, create even more "Lens Flares" like I have done. I also added another with a "Lens Type" of "105mm Prime" at 63%.
Once you are satisfied with your image go to "Filter" then "Distort" and lastly "Polar Coordinates" using the default settings. Now simply grab the "Elliptical Marquee Tool" and while holding the "Shift Key" drag out a perfect circle to outline your newly created metal ball. Now go to "Select" then "Inverse" and finally you are able to delete the selection by going to "Edit" then "Cut" and there you have it.
As you can see, I have added some reflection and shadow to give it more depth. Hope you enjoy!
The Results!!!













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