Faulkner hat-trick not enough to prevent first defeat.
New signing Mac Faulkner led the Devils charge with a hat-trick, but they were beaten after sudden-death overtime and a penalty shoot-out.
Cardiff-born former Devils forward Jonathan Phillips netted twice for Steelers, while Cory Pecker was also on target.
It took five rounds of penalties to decide the issue with Pecker and Colin Shields scoring for Sheffield, man of the match Faulkner for Cardiff.
Overall, though, Cardiff can feel satisfied with an opening League weekend in which they earned three out of four points available against the title favourites.
Devils collected both points in Sheffield on Saturday with a 4-2 win and the two teams earned a point apiece last night because the scores were level after regulation time.
Steelers made sure of a second point with that penalties success. Period scores (Devils first): 1-1; 0-1 (1-2); 2-1 (3-3); 0-0 (3-3).
Penalties in minutes: Devils 4+6+2+0=12; Steelers 4+2+2+0=8. Scorers: Devils: Mac Faulkner 3+0, Jamie Milam 0+1, Kenton Smith 0+2, Gerad Adams 0+1, Tyson Marsh 0+1. Steelers: Cory Pecker 1+0, Jonathan Phillips 2+0, Steven Goertzen 0+1, Jason Hewitt 0+1. [bar] THE next match for Cardiff Devils is away against Hull Stingrays in a Challenge Cup clash this Thursday (7.30pm). Cardiff's next home game is against Braehead Clan in the Elite League at Cardiff Bay Arena on Sunday (6pm). Ticket information available from the box office on Cardiff 029 2038 2001. Elite League results, Saturday: Hull 2, Nottingham 4; Braehead 3, Belfast 2; Dundee 2, Coventry 3; Fife 2, Edinburgh 0. Sunday: Nottingham 5, Dundee 1; Coventry 4, Fife 3; Cardiff 3, Sheffield 4; Edinburgh 4, Braehead 3.