“It’s your jobs, your lives, your communities, your families.”Relief swept the town, even spilling into Scunthorpe United’s soccer match, where steelworkers were welcomed on the field with cheers. The local club’s nickname, “The Iron,” stands as a tribute to the town's industrial roots.The blast furnaces are not just vital to Scunthorpe — they represent the UK’s last capacity to produce steel from raw materials. He accused Jingye of making “excessive” demands during negotiations and warned that without intervention, the company was on track to “irrevocably and unilaterally” shut down primary steelmaking.Though the new law does not nationalize British Steel, Reynolds acknowledged that a future transfer of ownership to the state remains on the table. It also raises uncertainty over Jingye’s role going forward. Should the company fail to comply with the law, it and its executives could face legal action.British Steel, acquired by Jingye in 2020, has yet to comment on how it will respond to the government’s move.

Source: The Times April 12, 2025 16:57 UTC