Steel is an alloy of Iron and Carbon.

The statement "Steel is an alloy of iron and carbon" is true. Steel is commonly known as an alloy of iron and carbon, where the carbon content is kept below 2%. By adjusting the carbon content and adding other elements like manganese, chromium, and nickel, the properties of the steel can be modified to suit specific applications. The presence of carbon in steel enhances its strength, hardness, and toughness, making it one of the most widely used materials in construction, manufacturing, and various other industries.