I suppose when naming it, it should reflect the name of a place. When you switch to a map, it'll say "You're on your way to (mapname)"
That's another reason why Steel annoys me. You're on your way to STEEL. wtf.
Personally, I think it looks more like a ravine. But since Ravine is already taken, I'd probably go with Gulch (AFAIK that hasn't been taken yet)