It's steel...barely. The factory self tapping bolts are known to cross thread, when I dropped my skid plate I tossed the factory bolts, chased each hole with a tap, and used anti-seize on the new hardware.
This was after I snapped one of the original bolts and then snapped a cobalt bit while I was drilling it out....it took an hour and a half to grind the bit out with a dremel and stone.
I wanted to make sure that wouldn't happen again the next time I dropped the plate to change the front diff oil. Worth every penny of the $8 I spent on hardware.