Oxide inclusions appear in steel as a subproduct of steelmaking. These are generally detrimental to alloy properties; however, variations exist in the extent to which different inclusions are harmful because their properties vary as a function of their chemical composition. We use nanoindentation to measure the local elastic modulus and hardness of individual oxide particles, produced by precipitation within liquid iron, that belong to the systems Al2O3-SiO2-CaO and MnO-SiO2-FeO. Measured inclusion hardness values are typically in the range of 8 to 13 GPa and can reach 26 GPa for alumina-rich inclusions. Calcium aluminates rich in alumina are significantly stiffer than iron, with elastic moduli that can reach 350 GPa. On the contrary, calcium aluminates that are expected as a result of successful calcium treatment (i.e., with less than about 80 wt pct Al2O3 content) have elastic moduli below that of iron. This is also the case for the wide range of calcium aluminosilicates and of manganese silicates studied here. In addition, silicates containing about 70 to 80 wt pct MnO are observed to have a fine multiphase structure and an elastic modulus of approximate to 180 GPa. Those inclusions thus emerge as possible candidates if one aims to minimise, in loaded steel, stress concentrations associated with matrix-inclusion elastic mismatch.