What is Grade 12 steel?

Excuse me, could you kindly elaborate on the characteristics and applications of Grade 12 steel? I'm particularly curious about its physical properties, such as its tensile strength and yield strength, as well as any specific industries or projects that commonly utilize this type of steel. Additionally, how does Grade 12 steel compare to other grades in terms of durability and cost-effectiveness? I'm eager to gain a deeper understanding of this material and its suitability for various applications.