Steelwool will give you much less shine than semi-gloss; more of a satin.
Here's a cut and paste of the stuff I use...
MENZERNA
RUBBING AND POLISHING COMPOUNDS -- Menzerna of Germany has been making polishing compounds since 1888. Considered among the finest products available, they are used by Steinway and Baldwin for their impeccable piano finishes as well as demanding guitar companies like Fender, Martin and Taylor.
2L Pre-Polish Compound (#1) is for initial compounding, where you remove the scratches left by wet or dry sandpapers (it will remove 800 grit scratches on up). This is followed by 16 Fine Polishing Compound (#2). This will leave a mirror surface. For that deep-dish gloss, follow this up with the PO91E Intensive Polish (#3).
POLISHING PADS
SURBUF TM POLISHING PADS - These round pads are designed for use on random orbit sanders with a hook-and-loop style pad. Simply place the pad on your sander, apply a small amount of polishing compound or wax to the center of the pad, then work the compound with the sander. These tough, durable pads can be easily cleaned with soap and water or mineral spirits and re-used. They feature a patented fiber that resists snagging and bending common to wool bonnet type pads. Sold in packs of two pads, it's recommended that a separate pad be used for each compound. Use the 5-1/2" for 5" sanders and the 6" for 6" sanders
SURBUF POLISHING PADS
(Two 5-1/2" pads per package) -- 12.50
(Two 6" pads per package) -- 13.50
SURBUF TM HANDHELD PADS - These 3" X 5" hand-held applicator and buffing pads provide an inexpensive solution to a variety of surface application and cleaning needs. Use them not only to polish, but apply oil based stains and gel varnishes. These pads are great to use with various polishing compounds and pastes as well as pumice and rottenstone. Great for finessing small and hard to reach areas.
SURBUF HANDHELD PADS
(Four 3" x 5" pads per package) -- 8.25
Scott
Finishing is an 'Art & a Science'. Actually, it is a process. You must understand the properties and tendencies of the finish you are using. You must know the proper steps and techniques, then you must execute them properly.