An alloy is a mixture of two or more elements, where at least one of them is a metal. The alloy you're referring to$,$ composed of $0\mathrm{.}02\%$ iron and $2\mathrm{.}1\%$ carbon, is a type of steel. However, the specific name of the alloy would depend on the exact composition and any additional elements present. Steel is a broad term, and there are various types of steel alloys with different properties based on their composition and heat treatment.