Then i can't be steel. D:
It's maybe ultralightweightstuffanite. :D

It's Elven steel D:! Quicksilver ore <.<..

Cinnabar? Now understand nothing anymore, yay.

Btw. WACKEN!!!! \m/ 0n0 \m/
http://www.wacken.com/de/woa2014/ma.....ert-livestream

Whaaaa.. XD?

Because iron negates their magic.

XD!!!!!!!

Few ideas:
1.) What  MorgunSyver said
2.) ... it's magic! Can't cast magic in armor due to it being heavy, not iron. But magic it up....
3.) Elves aren't skinny because it's light, it's light because elves are skinny! Same reason dwarven armor is superheavy!
4.) It's actually mithral, not steel. Which is why elven steel stuff is always fancy - the stuff itself is expensive, why waste it on crude things?
5.) It's a core of lighter material with steel for an encasement, or vice versa for an edge

:o

XD.. Good explanation. Very good.. Verygood. Verygood!! VERY GOOD!! VERRRY GOOOD!!!

<.< ..My original point I was trying to state is that ELVES ARE TREE-HUGGING WUSSIES T.T!!!

We are tho D:

(Except those amazonian wood elves...)

*Raids your Elven town and steals away all the pretty Elf Bois*!

Cold iron negates Fae magic. Elves are Fae.