Lightness and sparsity are two natural parameters for Euclidean $(1+varepsilon)$-spanners. Classical results show that, when the dimension $din mathbb{N}$ and $varepsilon>0$ are constant, every set $S$ of $n$ points in $d$-space admits an $(1+varepsilon)$-spanners with $O(n)$ edges and weight proportional to that of the Euclidean MST of $S$. Tight bounds on the dependence on $varepsilon>0$ for constant $din mathbb{N}$ have been established only recently. Le and Solomon (FOCS 2019) showed that Steiner points can substantially improve the lightness and sparsity of a $(1+varepsilon)$-spanner. They gave upper bounds of $tilde{O}(varepsilon^{-(d+1)/2})$ for the minimum lightness in dimensions $dgeq 3$, and $tilde{O}(varepsilon^{-(d-1))/2})$ for the minimum sparsity in $d$-space for all $dgeq 1$. They obtained lower bounds only in the plane ($d=2$). Le and Solomon (ESA 2020) also constructed Steiner $(1+varepsilon)$-spanners of lightness $O(varepsilon^{-1}logDelta)$ in the plane, where $Deltain Omega(sqrt{n})$ is the emph{spread} of $S$, defined as the ratio between the maximum and minimum distance between a pair of points. In this work, we improve several bounds on the lightness and sparsity of Euclidean Steiner $(1+varepsilon)$-spanners. Using a new geometric analysis, we establish lower bounds of $Omega(varepsilon^{-d/2})$ for the lightness and $Omega(varepsilon^{-(d-1)/2})$ for the sparsity of such spanners in Euclidean $d$-space for all $dgeq 2$. We use the geometric insight from our lower bound analysis to construct Steiner $(1+varepsilon)$-spanners of lightness $O(varepsilon^{-1}log n)$ for $n$ points in Euclidean plane.