Scrap Iron and Steel Export Administration Act

[AI summary unavailable — showing source text] Scrap Iron and Steel Export Administration Act - Declares it to be the policy of the United States to alleviate the harmful effects of the excessive exportation of scrap iron and steel during periods of supply-demand imbalance by limiting the volumes of scrap that may be exported from the United States during such periods. Provides that if the Secretary of Commerce determines that a critical shortage of scrap iron or steel has occurred, he will take such action as is necessary to limit scrap exports for six months so that total exports for the six-month period will not exceed one-quarter of the preceding five-year annual export average.…