Thanks for your question on Healthcare Magic.
I can understand your concern.
No, steel will not dissolve.
And yes if it remains inside the skin then it may create problem.
This kind of matel particles causes local inflammation and
granuloma formation.
So if you kept it as it is then it will produce hard swelling consists of granuloma.
And this can be dangerous.
So better to first get done chest
x ray to locate the particle.
Once it is located then under local site incision, we need to remove it.
Don't worry, once it will be removed, no future complications well occur.
Hope I have solved your query. I will be happy to help you further. Wish you good health. Thanks.