Examine the wood screw you would like to match or sink into a steel rod. Find the wood screw diameter and threads per inch using a ruler or the measuring tool provided in the tap and die set. For example, a number 10 wood screw will have an overall diameter of 3/16 inch with 12 to 13 threads per inch. Find the tap and die from your set that match the diameter and threads per inch of your wood screw. The tap creates threaded holes to accept a wood screw, whereas the die creates threads on a rod or wire to make a functional screw.
Drill a hole in the steel rod, with a drill bit diameter appropriate for the wood screw, as given in the tap and die set's instructions. Do this only if you wish to make threads to sink the wood screw into the steel rod. The drill bit will be a smaller diameter than the wood screw, but the tap will remove the remaining diameter and threads. Twist clockwise the appropriately sized tap, matching the wood screw's specifications, to the depth of the drilled hole creating the correct wood screw diameter and threads. Twist the tap counterclockwise to remove the tap from the threaded hole. Insert the wood screw into the hole and turn the screw clockwise to sink the wood screw into the steel rod.
Twist the die clockwise over the diameter of the steel rod if you desire to make wood screw threads on the steel rod. As you twist the die clockwise, the screw threads incise in the steel rod and match the wood screw threads. Twist the die to the desired length and remove the die by twisting it counterclockwise. Then the steel rod can be used in a manner similar to a wood screw.