British Steel races against time as crisis talks end without deal

The government has said it was prepared to nationalise British Steel’s Scunthorpe factory if necessary. Photograph: Joel Goodman/The Guardian

Crisis talks between the government and the Chinese owner of British Steel have ended with no deal in place, as the Scunthorpe plant races against time to secure the raw materials needed to keep its blast furnaces running.

Jingye, which promised a “new chapter” in UK steelmaking when it rescued British Steel in 2020, said last month the site’s two blast furnaces were no longer financially sustainable, raising fears for the future of 2,700 workers.