Chemical reaction metal underwater

[Lee power]

Hi guys I was wondering of someone on here could briefly enlighten me on the chemical reactions that would occur with a Teflon Coated high carbon steel hook and a lead sinker while underwater? I am looking into the signals that may or may not be given off by these items both separately and with each other with in a fishing situation that an old wise and somewhat cute carp may pick up on when aproaching a fishing rig and said hook. I am looking into all aspects of this regarding rusting, electrical charge, magnetic fields etc. Any help is massively appreciated. Thanks in advance
Lee

 

[Bystander]

Teflon coated high-C steel --- with pinholes, of course --- lead sinker, plus brass wire --- you're not making this easy. Temperature? Salinity?