Enemy Party, here's the 411 on the word "steel" in the King James Bible:
The word should be exactly what it is --- steel.
I checked a couple of the AV1611's predecessors, and here's how They read:
Checking my 1850 Webster's Dictionary, I found this:
steel
1. Iron combined with a small portion of carbon; iron refined and hardened, used in making instruments, and particularly useful as the material of edged tools. It is called in chimistry [sic], carburet of iron; but this is more usually the denomination of plumbago.
2. figuratively, weapons; particularly, weapons, swords, spears and the like.
The word is correct as it stands.