No, you do a little research. The process of making steel goes like this: first off all, steel is made in Siemens-Martin ovens. Those ovens lay on two chambers in which gas is heated up. In the rack pig iron, hematite and iron waste are porn in. The oven is heated up with carbon dioxide or how it is called in industry generator gas so the burning would be more complete. The process goes on until the percentage of carbon in the metal is below 2%. What you said is carbon steel which has up to 2.1% of carbon in it. Since none of this is possible my idea is only to mix iron and carbon together as my recipe says above.
And to Xaviier: Precious ID's my ass, this would only need 3 extra ID slots. For the isolators, for the steel and steel poles to hold the trunks. The poles would just be placed in some way to make the trunks. The High-voltage leads would be connected to the isolators. Doesn't it seem unreasonable if only 3 ID slots will be taken to have wires floating in the air. You said that it would change the physics, yea it would but in a good and a nicer looking way. And on the other hand, don't you think that directly powering up something is more efficient then going threw a bigass set of redstone wires that are placed on the ground. Minecraft isn't realistic which doesn't mean it can not be made that way.