Alcohol + Steel wool + Time = rotted/rusted steel wool which becomes of no use.

IMHO there are a lot better options than steel wool. THe one that comes to mind that's easy to get and CHEAP are alcohol swabs.
You can store 50 seperately packaged ones w/out adding much weight to a pack.
A spark will light one first time, they burn HOT for a decent amount of time (well enough to light tinder and if you need longer burn time light another).

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Try one you may be surprised.