It is an alloy composed mainly of iron and not more than 2.06% carbon. If the percentage of carbon alloy exceeds this threshold, the league is called cast iron. The most important properties of steel are: large deformation and hardness, good tensile strength and tensile yield strength, good thermal conductivity, and, for stainless steel (stainless steel), corrosion resistance.

Steel has been one of the most important elements for the advent of the Industrial Revolution and most of the industrial development of our world is based on the availability of this alloy. The world produces more than one billion tonnes per year (2008) of which about 35% comes from the recycling, because the steel is completely recyclable.

The steels are classified according to the rate of carbon as follows:

• extra sweet: carbon between 0.05% and 0.15%;
• semi-sweet: carbon between 0.15% and 0.25%
• sweet: carbon between 0.25% and 0.40%;
• semi-hard: carbon between 0.40% and 0.46%;
• hard: carbon between 0.60% and 0.70%;
• very hard: carbon between 0.70% and 0.80%;
• extra-hard: carbon between 0.80% and 0.85%.

Items that are eligible to join the league are numerous and give the same chemical and physical properties very different. For example, the stainless steel has a minimum chromium content of 11-12% and a maximum value of 1.2% carbon.

Since 2008, the steel is listed on the London Metal Exchange (in the form of billets).

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