The term STEEL COMPONENT can be broken down into two parts: IRON, which is a four-letter word, and COMPONENT. IRON is a chemical element that is found in nature and is the most commonly used metal in the world. It is an important COMPONENT of steel, which is an alloy made up of IRON and other elements such as carbon. Steel components are used in a variety of applications, including construction, automotive, and aerospace industries. They are also used in the manufacture of tools and machinery.