Wheels, especially OEM alloy wheels, are not cheap, easily worth a couple hundred dollars each, which makes them a prime target for thieves. To combat this, several companies make wheel locks, which are a replacement lug nut with a special pattern that you need the key to remove.
Steel wheels, however, are not very expensive. A set of new steel wheels would cost less than a single OEM alloy wheel. Because of that, I don’t know why anybody bothers putting wheel locks on steel wheels. Maybe if they live in a part of the city with a lot of crime problems, but I still think that steel wheels wouldn’t be the first thing to get stolen.
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-Dan