Fresh piece of steel in the central pillar (5)

I believe the answer is:

newel

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'pillar' is the definition.
(I know that newel is a type of pillar)

'fresh piece of steel in the central' is the wordplay.
'fresh' becomes 'new' (synonyms).
'piece of steel in the central' becomes 'el' (I can't explain this - if you can you should believe this answer much more).
'new'+'el'='NEWEL'

Can you help me to learn more?

(Other definitions for newel that I've seen before include "Top/bottom supporting post of a stair-rail" , "Column" , "Post at the end of stairs" , "Yucatan native" , "Main post supporting handrail on stairs" .)

I've seen this clue in the Evening Standard.

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