Steel is an alloy of iron and carbon that demonstrates improved mechanical properties compared to the pure form of iron. Due to its high elastic modulus, yield strength, fracture strength and low raw material cost, steel is one of the most commonly manufactured materials in the world. Steel is used in structures (as concrete reinforcing rods or steel beams), in bridges, infrastructure, tools, ships, trains, cars, bicycles, machines, electrical appliances, furniture, and weapons.

Iron is always the main element in steel, but other elements are used to produce various grades of steel, demonstrating altered material, mechanical, and microstructural properties. Stainless steels, for example, typically contain 18% chromium and exhibit improved corrosion and oxidation resistance versus their carbon steel counterpart. Under atmospheric pressures, steels generally take on two crystalline forms: body-centered cubic and face-centered cubic; however, depending on the thermal history and alloying, the microstructure may contain the distorted martensite phase or the carbon-rich cementite phase, which are tetragonal and orthorhombic, respectively. In the case of alloyed iron, the strengthening is primarily due to the introduction of carbon in the primarily-iron lattice, inhibiting deformation under mechanical stress. Alloying may also induce additional phases that affect the mechanical properties. In most cases, the engineered mechanical properties are at the expense of the ductility and elongation of the pure iron state, which decrease upon the addition of carbon.

Steel was produced in bloomery furnaces for thousands of years, but its large-scale, industrial use began only after more efficient production methods were devised in the 17th century, with the introduction of the blast furnace and production of crucible steel. This was followed by the Bessemer process in England in the mid-19th century, and then by the open-hearth furnace. With the invention of the Bessemer process, a new era of mass-produced steel began. Mild steel replaced wrought iron. The German states were the major steel producers in Europe in the 19th century. American steel production was centred in Pittsburgh; Bethlehem, Pennsylvania; and Cleveland until the late 20th century. Currently, world steel production is centered in China, which produced 54% of the world's steel in 2023.

Further refinements in the process, such as basic oxygen steelmaking (BOS), largely replaced earlier methods by further lowering the cost of production and increasing the quality of the final product. Today, more than 1.6 billion tons of steel are produced annually. Modern steel is generally identified by various grades defined by assorted standards organizations. The modern steel industry is one of the largest manufacturing industries in the world, but also one of the most energy and greenhouse gas emission intense industries, contributing 8% of global emissions. However, steel is also very reusable: it is one of the world's most-recycled materials, with a recycling rate of over 60% globally.

The noun steel originates from the Proto-Germanic adjective *stahliją or *stakhlijan 'made of steel', which is related to *stahlaz or *stahliją 'standing firm'.

The carbon content of steel is between 0.02% and 2.14% by weight for plain carbon steel (iron-carbon alloys). Alloy steel is steel to which other alloying elements have been intentionally added to modify the characteristics of steel. Common alloying elements include: manganese, nickel, chromium, molybdenum, boron, titanium, vanadium, tungsten, cobalt, and niobium. Additional elements, most frequently considered undesirable, are also important in steel: phosphorus, sulphur, silicon, and traces of oxygen, nitrogen, and copper.

Plain iron–carbon alloys with a higher than 2.1% carbon content are known as cast iron. With modern steelmaking techniques such as powder metal forming, it is possible to make very high-carbon (and other alloy material) steels, but such are not common. Cast iron is not malleable even when hot, but it can be formed by casting as it has a lower melting point than steel and good castability properties. Certain compositions of cast iron, while retaining the economies of melting and casting, can be heat treated after casting to make malleable iron or ductile iron objects. Steel is distinguishable from wrought iron (now largely obsolete), which may contain a small amount of carbon A (<0.1 %) but large amounts of slag (around 1–2%).

Iron is commonly found in the Earth's crust in the form of an ore, usually an iron oxide, such as magnetite or hematite. Iron is extracted from iron ore under reductive conditions, where oxygen reacts with carbon in the fuel to produce carbon monoxide, which then reduces the iron oxide into metallic iron. This process, known as smelting, was first applied to metals with lower melting points, such as tin, which melts at about 250 °C (482 °F), and copper, which melts at about 1,100 °C (2,010 °F), and the combination, bronze, which has a melting point lower than 1,083 °C (1,981 °F). In comparison, iron melts at about 1,540 °C (2,800 °F), a temperature not attainable at the start of the Iron Age. Small quantities of iron were smelted in ancient times in a semi-liquid state by repeatedly heating the ore in a charcoal fire and then welding the resulting clumps together with a hammer. The process eliminated much of the impurities, resulting in the production of wrought iron. As furnaces reached higher temperatures due to bellows improvements leading to increased airflow, iron with higher carbon contents were able to be produced. Unlike copper and tin, liquid or solid iron dissolves carbon quite readily.