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    Conductivity of Steel (as a material) is higher than that of paper.  Paper is more insulating (thermal) than Steel.  Hence, when we touch steel objects and press the hands on them, heat energy flows from the hands to steel rod.  As the room temperature is less than our body temperature, heat flows to the steel rod.  Our body is a good conductor of heat, so it transmits heat energy.   So we feel cold.

On the other hand, paper or any objects made of insulating material, do not readily transmit the heat or receive heat energy from out body.  So we feel the temperature of our own skin, in general.

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