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Daily News

Emergency Steel Scrap Coalition Formed
Mar 2, 2004
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The Emergency Steel Scrap Coalition has been formed by U.S. steel scrap processing and consuming industries to try to obtain relief from current shortages and resulting high prices of steel scrap stemming mostly from increased exports of domestic steel scrap to China and South Korea.

Companies may join the coalition individually or through a trade association. More information about the coalition and how to participate is available on the coalition’s new website, www.scrapemergency.com.

The membership fee schedule for individual companies ranges from U.S. $2,000 to $20,000 based on the company’s total annual sales of steel and steel products. The fee for associations to join the coalition may be higher depending on the total annual sales of steel and steel products of Association member companies. Companies may also contribute a pro rata share of the membership fee for the Gas Appliance Manufacturers Association (GAMA) to join.

The principal objective of the coalition is to petition the U.S. Secretary of Commerce to impose temporary controls on exports of steel scrap, a trade remedy provided for by existing U.S. law and last used in 1973-74. The Secretary of Commerce may, in his discretion, impose export controls if he finds a significant increase in steel scrap exports, a significant shortage and increase in the domestic price of steel scrap, a significant adverse effect on the national economy or any sector thereof, and finds that export controls are necessary to "protect the domestic economy from an excessive drain of scarce materials and to reduce the inflationary impact of foreign demand."

Other planned coalition activities include the preparation an economic analysis by Charles River Associates that will be used to document the harm caused companies, industries, a lobbying and government relations effort focused both on the administration and the Congress, and a public relations effort to obtain media coverage of the steel scrap crisis.

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