The British government has refused to rule out nationalizing the last plant in the U.K. that makes steel from raw materials as the global trade war increases pressure to preserve the nation’s ability to supply domestic industry with the steel it needs.
The Scunthorpe steel works operated by British Steel may soon run out of the iron pellets used to produce steel in two massive blast furnaces unless the government steps in, according to local politicians and unions. That’s because the plant’s owner, China’s Jingye Group, canceled orders for these essential raw materials amid negotiations for increased government support.
