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Yes, or you can use it without cutting, it depends on how long your probe will stick through. If the probe is short, you need to cut it down so the probe end will stick into the cook chamber. If you have access to a pipe tap, you can tap a hole instead of using a fitting but that also depends on the thickness of your steel and can pain in the ass running a tap into a curved surface.
It's a Weber you can pick up for $10 or less. It doesn't compare to my Thermapen but it does pretty good & cost 10 times less - the moveable head is a nice feature on it...