This screen grab from PA video shows a view of the British Steel plant in Scunthorpe, Lincolnshire. (AP)The strategic importance of steelThe financial strain and international factorsThe political responseHistorical context and steel industry declineA pivotal momentIn an extraordinary Saturday parliamentary debate, UK lawmakers discussed a government-backed emergency bill aimed at preventing the closure of the country's last steel plant that makes steel from scratch. The Scunthorpe plant, owned by Chinese firm Jingye , has been struggling financially and is at risk of shutting down, potentially decimating what remains of the UK’s steel industry.Prime Minister Keir Starmer’s administration is now poised to "take control" of the facility to keep the blast furnaces running. “Today's legislation will help ensure that we can retain that steel-making capability here in the UK, both now and for years to come. The company has stated that the Scunthorpe facility is no longer financially viable under its current operations.

Source: The Times April 13, 2025 01:02 UTC