Not really. Steel is good versus three types: Rock, Ice, and Fairy. Rock and Ice are both somewhat relevant, but both types are also super-effect against him making it a bit risky.
Fairy typing barely gets a mention these days, but this may change in the future. Even then, there's probably going to be better Pokemon for taking on the Steel attacker role, especially Scizor who will benefit from STAB as well as resistances to Fairy.
