That and it also is difficult to remove (completely) from the Fret board and finish..Steel wool leaves tiny fibers that the pup magnets pick up. I would stay away from it personally.
I'm one that believes that steel wool has no place on a guitar.
Nevr Dull works great, been using it for years.I agree. The steel wool will clean it up, but there are other things that work just as good, if not better, and don’t have the negative effects. I like to use Nevr-dull.
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This stuff works great and it’s really easy. Here are a couple before and after pics of a bridge I cleaned up.
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And frets, I like to use sand paper. Progressive grits of 600, 1500, 2500, and then automotive rubbing compound. They will shine bright and be smooth as a baby’s bottom.