The Steel Bow (鋼の弓 Hagane no Yumi) is the second most common Bow. In most games it gives more weapon exp and is stronger and more expensive than the Iron Bow.
Like most relationships between steel and iron weapons, the bow is no exception. The fact that the steel bow is heavier and less accurate than the iron bow sometimes is not worth the extra power that it brings. Most archers, in fact, are most likely better off always carrying iron bows or Short Bows with their steel bows until they become strong enough to wield heavier bows with ease. Double hits and accuracy are more common with iron and short bows than in steel bows but many find it useful to carry both with them.