It generally refers to high-value steel that possesses superior mechanical or physical properties compared to ordinary steel, achieved through specific alloying elements and advanced manufacturing processes (e.g., micro-alloying, specialized heat treatments).

Application: Used in high-tech sectors like defense, aerospace, automotive (safety components), railways, and infrastructure.

Government Focus: India often promotes 'Make in India' and PLI schemes for Specialty Steel to reduce import dependency and enhance domestic manufacturing capability.