Overview

• The UK Government intervened to secure raw materials for British Steel's Scunthorpe plant after talks with Chinese owner Jingye collapsed.
• Business Secretary Jonathan Reynolds confirmed future Chinese bids in the steel sector will face stricter scrutiny due to concerns over national interest.
• Raw material shipments have arrived in the UK, ensuring the blast furnaces at Scunthorpe remain operational and preventing irreparable damage.
• The incident has reignited political calls for clearer guidelines on foreign investment in strategic industries, including steel and energy.
• Allegations suggest Reynolds’s softened stance on Chinese involvement may have been influenced by pressure from Number 10, though this remains unconfirmed.