〈物もの〉は鋼はがねでできている〈thing〉 is made of steel
このナイフは鋼はがねでできている。
This knife is made of steel.
鋼はがねを鍛きたえるto forge/temper steel
刀とう匠しょうは炎ほのおの中なかで鋼はがねを鍛きたえる。
The swordsmith forges the steel in the flames.
鋼はがねのように〈形けい容よう詞し〉as 〈adjective〉 as steel
彼かれの意い志しは鋼はがねのように固かたい。
His will is as unyielding as steel.

刀かたなN3sense 2

刀 is the ordinary word for a sword, while 鋼 is used poetically or figuratively to mean a sword by referring to its blade material.

スチール sense 1

スチール is the katakana loanword for steel, common in casual or product-related contexts, while 鋼 is the native Japanese term used in more technical or literary settings.

粗そ鋼こう

鋼 is the general word for finished steel, while 粗鋼 refers specifically to the raw, unfinished steel output measured in production statistics.

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鉄てつN2
鉄 broadly covers iron and, loosely, steel, while 鋼 specifically denotes refined steel as a material.
鋼こう材ざい
鋼 refers to the steel alloy itself as a material, while 鋼材 refers to steel that has been shaped into usable products like bars, sheets, or pipes.

Don't confuse with

鉄てつN2sense 1
鉄 is plain iron, whereas 鋼 is steel, a harder alloy of iron and carbon, so the two are easily confused but chemically distinct.
鉄てっ鋼こうN1
鋼 is the everyday word for 'steel' as a hard, worked metal, while 鉄鋼 is a formal industry term encompassing both iron and steel.

Word family

玉たま鋼はがね
tamahagane; traditional Japanese steel made from iron sand
鋼はがね色いろ
steel blue

Written forms

鋼Usage98%
- はがね
  Standard kanji spelling; the reading はがね is the most common.
- こう
  On-reading, mostly found in compounds such as 鋼鉄 (こうてつ). Rare as a standalone word.
はがねUsage1%
ハガネUsage1%
刃は金がね
rarely-used kanji form
Rarely used kanji form.
こう

Etymology

A native compound of 刃（は） “blade” and 金（かね） “metal,” with voicing of the second element, originally denoting metal suitable for blades.