Trim most of the external fat from the steaks. Melting fat can cause flare-ups that deposit soot on the meat and burn the surface. Sprinkle the meat with salt and pepper and rest in the refrigerator, uncovered, for 1 hour before cooking.
Set up a charcoal grill for indirect cooking, or a gas grill for two-zone cooking with the burner set to about 225°. Place the meat on the indirect zone and cover. After 10 minutes, flip the meat and re-cover. After 5 minutes more, check the interior temperature with a meat thermometer in a few different locations. The exterior color should be tan but not yet caramelized. When the interior reaches 110° (4–5 minutes more), move the meat off the grill and set aside.
Prepare the grill to sear the exterior. On a charcoal grill, bunch the coals together or add a few newly lit hot coals to create a direct zone. On a gas grill, heat a sear burner or turn the burners up to high heat.
Pat the meat dry and place it over the hottest part of the grill, uncovered, and as close to the heat source as possible. Each side will take 3–4 minutes to become evenly dark. When the interior temperature reaches 130° for medium rare, remove from the grill. Slice the steaks across the grain, reassemble on a platter, and serve immediately.