I've heard that grouping with a high-leveled player and farming off of the Rotator is pretty good. Are there any other well-known methods of obtaining Steel?
Here's a post made by Declan Winter it's a good guide on places to farm with level suggestions as well. http://forum.astroflux.org/viewtopic.php?f=14&t=12105#p71606
So the suggestions there are stuff like Dmats, Ossakel, Drak, Mitrillion left dread algea, and Scrap collector. All of which are good farms, I'd suggest looking at the post it goes in to better details on what to do at each to get the most out of each spot.