Overview

• The UK government has taken operational control of British Steel’s Scunthorpe plant, with Business Secretary Jonathan Reynolds stating full nationalisation is now the likely outcome.
• Emergency legislation was passed after Chinese-owned Jingye Group halted raw material orders, threatening to shut down the UK’s last virgin-steel blast furnaces.
• Shipments of critical raw materials, including coking coal and iron ore, have arrived at Immingham Port, ensuring furnace operations for the coming weeks.
• The diplomatic row with China has escalated, with Beijing accusing UK politicians of ‘arrogance’ and warning of potential damage to economic cooperation.
• Ministers are assessing private-sector ownership options under stricter security criteria, though no immediate private buyers have been identified.