Overview

• The UK government confirmed the arrival of raw materials from the US and Australia to keep British Steel's Scunthorpe blast furnaces operational for the coming weeks.
• Emergency legislation passed on Saturday granted the government control of British Steel's operations after Chinese owner Jingye halted raw material orders and began selling off existing supplies.
• Interim leadership has been installed at the Scunthorpe plant, with Allan Bell and Lisa Coulson appointed to oversee operations and stabilize production.
• China's foreign ministry warned the UK against politicizing trade, raising concerns about the future of Chinese investment in British industries.
• Officials indicated that nationalization remains a likely option if a private sector partner cannot be secured to ensure the plant's long-term viability.