UK Government Plans Emergency Measures to Save British Steel

British Steel's future hangs in the balance as the UK government scrambles to secure emergency coal supplies for its Scunthorpe plant, which could run out of materials within days. The company, owned by Chinese firm Jingye, has stated that it can no longer sustain operations financially and is unwilling to purchase new raw materials. Government officials are exploring options, including potential nationalisation, while emphasizing the importance of a commercial solution for the long-term viability of steel production in the UK. With 2,700 jobs at risk, ministers are facing pressure to act quickly, as negotiations are stalled over who will cover the costs of essential shipments. Meanwhile, calls for a deal with Jingye rather than nationalisation are emerging from political leaders, highlighting the urgent need for a resolution. The situation is further complicated by legal barriers that hinder direct government intervention for material purchases.