1944 S Wheat Penny: could this be a zinc-coated steel?

Hi everyone! I am a new member and I hope you can provide me further information about this coin, it would be greatly appreciated.

I just came across to this 1944 s penny in my pile of wheat pennies. Obviously, really worn out for being unkept, neglected for almost 75 years and when I weighed it, this one passed the initial diagnostic as it weighs 2.75g.

I cannot confirm with the second diagnostic yet, I am not so sure as when I tried using the ref magnet I only have available (I put it on top of the coin), it won't hold it but maybe because I wasn't doing it right or this penny is just too corroded and rotten? Under magnification, I could see grayish color underneath but this coin is just really well beat up.

I have done some research and compared some notes with the altered version and searched for the worst type of unpleasant looking and corroded 1943 zinc-coated steel and 1944 copper pennies photos just to have better references.

I have also learned that steel cents can quickly started to rust and deteriorated. I am also aware a well circulated, damaged and corroded coin could decrease its weight but it should still be within the coin weight tolerance depending on its mass/density composition.

I really hope to hear from the experts to share their thorough knowledge from my inquiry. Thank you in advance.