Amends the Emergency Steel Loan Guarantee Act of 1999 to prohibit qualified steel companies that have been issued loan guarantees under such Act from: (1) contributing any of the proceeds of such a loan to any facility located outside the United States that is engaged in manufacture of certain steel mill products (including ingots, slabs, or billets); or (2) using any such proceeds to import iron ore pellets, ingots, slabs, or billets produced in any country subject to specified trade remedies with respect to such products. Sets forth civil penalties for violations of the requirements of this Act.