Held at the venue of the 1964 and 1976 Olympic Winter Games, the Igls track was one of the first refrigerated tracks in the world.
Steele was seventh on both of her runs down the 1.220 kilometre course, and finished less than a second behind the winner, Britain’s Elizabeth Yarnold.
“There were certain things I wanted from myself in the race today, besides a good result, and I feel that I accomplished what I set out to do,” Steele said.
“After a couple of set back races, today I felt good on the sled and let it run. I also pushed competitively.
“These were the two things I wanted to get back to. Now I can just keep building.”
Fellow Australian, Lucy Chaffer, finished 13th after setting the 13th and 15th fastest times on her two runs.
“A decent day today, (and) I was happy to feel that my sliding was coming back,” Chaffer explained.
“I made a few mistakes in both runs that cost me time, but at least I know that was the reason.”
Steele and Chaffer are 16th and 17th in the FIBT Skeleton World Cup.
The Australians race again in Germany next weekend, before preparing for the Sochi Games in February.