It's pages like this that make me kind of itch for a cuttenpaste solution for <items> of a given <tier>. Ideally, just one page, with a rotatable "Item Stat / Pic" display for each of the tiers. So many wikis would benefit from this.
Debatable on whether or not it's vandalism, but it's irrelevant and incorrect, so I removed it.
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The Steel Axe tool is a Tier 3 tool for harvesting Wood, an upgrade from the Iron Fireaxe (see this link for most information). Like all tier upgrades, the has more durability, block damage, and stamina cost; meaning it can harvest faster, but at a cost of more Stamina points each strike, for less stamina per resource gathered (roughly speaking - depends on Quality of the axe and skills and perks like Miner 69'er)
Unlocked from a Steel Tools Schematic.