Aye it's steel. Has a number of fits to secure it. I've never had any issues with - wouldn't overload the rack if you're not riding a rack fork (I've crack a fork doing so before, didn't end up in injury luckily but just be wary, not to put you off haha).
Was installed on my tarck bike but didn't get much use. Doesn't come with the Restrap magnetic strip as seen in the photo. The legs attach either to rack eyelets or to a 10mm hub’s axle.
A couple of bits for sale - all exclude postage.
Sugino 75 black 165 + Sugino Zen 49T Chain Ring, in good condition, usual scuffs but nothing major. Listing else where
WTB Resolute 700c 42 - Listing else where
Selle San Marco Presa Corsa Team Iridescent Bar Tape - Listing else where