Steel is an alloy of iron and carbon that is widely used in construction and manufacturing due to its high strength and low cost. There are several grades of steel depending on carbon content and other alloying elements. Low carbon steel has a very low carbon content below 0.3% and is the most commonly produced grade due to its low cost. Medium carbon steel has 0.3-0.6% carbon and can be heat treated to increase strength. High carbon steel contains 0.6-1.4% carbon and is very hard but brittle. Stainless steels contain at least 11% chromium which gives them high corrosion resistance.