Female Blacksmith illustration

Pretty cool! I have a preference for the first one. It feels a bit more dynamic and the character looks more powerful, at least to me

I really like both but I think the 2nd one is more powerful because it looks like more power is about to be put into her strike on the sword. She's getting an extra power boost it seems form the sorceress and the angle of body implies that more force is needed.
As far as what is more interesting, that is a bit harder to pick because comp 1's story in my opinion shows how delicate she is with her work to make this amazing weapon compared to comp 2, which tells a different story of how she has to approach making this awesome sword. So for me it's about what story you find more interesting.
You have a great comp and the base colors are looking to add to the epicness. If I gotta choose 1 then Composition 2 might be the go to.

First off, great job on the colors and values! I can easily tell where my focus must go right away!

I have to say, I do prefer the second pose, but I feel like the angle may be a bit confusing.

The character's body, while looking at us/the sword, is faced toward the outside of the image. I think that moving that character a little bit more toward the left may help with that. That way, you get to give more space to the character at the far right with the lightning. That can also "close" this side of the image better!

There is also the sword that gets cut out of the image, which could a bad thing. I see two main "lines" in this composition. One goes from the main character's hand touching the sword to the one holding the hammer. The other line would simply be the sword. You could either angle the sword more in the picture to bring back the eye inside of the image, or your could accentuate the "fiery" effects that you already added in the colored version, which are pointing back to the character.

I hope this helps a bit!