Scrap Iron and Steel Export Administration Act

Scrap Iron and Steel Export Administration Act - Expresses the findings of Congress. States that Congress declares that it is 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. Defines the terms used in this Act.

Directs the Secretary of Commerce, as soon as possible after the closing of each calendar year quarter, and within forty-five days following the close of such quarter, to determine if no shortage, a shortage, or a critical shortage occurred in that quarter and he shall make this determination a matter of public record. States that if the Secretary determines that a critical shortage occurred, he will take such action as is necessary to limit scrap exports for six months.

States that if the Secretary is not able to make a determination as to the presence or absence of a critical shortage as required, a total embargo of scrap exports will be imposed.