The Steelers' initial draft capital is set for the 2021 NFL Draft.
The last piece to the puzzle Kevin Colbert was waiting to complete came out Wednesday afternoon when the NFL released the complete list of compensatory picks awarded based on last year's free agency period.
The Steelers were awarded a fourth round compensatory pick, which is the 35th pick of the round and the 141st of the draft. This came as a result of the Steelers losing Javon Hargrave, Sean Davis, B.J. Finney, Tyler Matakevich, and Nick Vannett, as well as signing Eric Ebron and Derek Watt in free agency last year.
This now gives the Steelers eight picks in the 2021 NFL Draft, five of those picks coming in the first four rounds. Colbert and Mike Tomlin will obviously weigh who the Steelers target in the earlier rounds, but an extra fourth round pick could add to the team's trade capital should they want to move up in any of the earlier rounds.
The Steelers could also find value in simply keeping the pick and using it to address depth at different positions like they did last year when they drafted Anthony McFarland and Kevin Dotson in the fourth round.