AutoCAD Inventor :: Material Library - Assigning Specific Steel Type?

When assigning materials to a part in inventor the process is simple, however when one wishes to assign a specific steel type ie ASTM A516 as opposed to just a generic steel then this is where it gets a little more complicated. 

This specific steel type will also need to be called up in the parts list relevant to the individual part that it is attached to.

I know that a custom material can be added to the favourites section in the materials library,and this can be done if required.

Have i delved deep enough into the inventor materials library , do the basic steel  and others materials ie plastics break down into specific types with their elastic properties,yield stresses etc etc in other words a more comprehensive materials library or is this something that must be created by  custom material input.