1. Iron (Fe): This is the primary component, forming the base of the steel.

2. Carbon (C): This is the most common alloying element, responsible for the strength and hardness of the steel.

While these are the two main elements, alloy steels are distinguished by the addition of other elements, which can range from a few percent to as high as 50% of the total composition. These additional elements can be chromium, nickel, manganese, molybdenum, vanadium, tungsten, silicon, copper, etc. They are added to enhance specific properties such as:

* Strength

* Toughness

* Corrosion resistance

* Heat resistance

* Ductility

* Machinability

The specific combination and proportions of these elements determine the final properties of the alloy steel.