As an iron-carbon alloy, steel contains less than 2% carbon, 1% manganese, and certain amounts of oxygen, phosphorus, silicon, and sulphur in its composition. Because of its outstanding characteristics, steel is one of the most crucial materials used in engineering and construction. As a versatile material, steel is widely used in various fields in daily life such as in automobiles and building materials, electrical home appliances and white goods, medical tools, and marine transportation. Since it is a recyclable material, it can be recycled again and again without compromising its outstanding properties.