Jane, are the numbers you listed above (95, 100, 99, 98, ...) from a continuous right-clicking on a Steel Pick or are they from different times and days? If certain skills have changed between checks (especially Strength) your effectiveness will of course be affected. If you insert or create SNIs for skills that affect the given item the change will be even bigger.
I haven't played with any of the skills that affect the steel tools so as far as I know my EL is always "95% (90% - 100%)" on both. Repeatedly right-clicking both items in my inventory doesn't change the numbers at all.