The UK is the national steel nationalization

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The UK government is studying the nationalization of British steel, as Sir Kerr Starmer pledged on Tuesday to carry out “everything we can to ensure a bright future” for the main location of the Chinese steel industry.

The severe losses company, which employs 3,500 people in three locations in the United Kingdom, is at risk after the owner Jingye Group and UK government He failed to agree on a package of financial support.

The shortage of raw materials required to keep the last two smelting oven in the UK at the main British Steel in Scunthorpe, Lincolnshire, within 48 hours, according to the people familiar with the matter.

The people said that UK officials are examining the options for buying coal and iron materials needed to preserve the short -term ovens because British steel has not yet requested.

Restart the smelting furnaces will be difficult and take time if they are activated and the minerals are allowed to cool. The closing of the Scunthorpe facility, which provides 95 percent of the UK railway tracks, will put 2,700 jobs and leave the UK without the ability to make steel from scratch.

Starmer said that the discussions with Jenny were “continuing” and reiterated his position that “all options are on the table.” Business Secretary Jonathan Reynolds is scheduled to meet with executives from the company on Wednesday.

“We are doing our best to ensure a bright future for Scunthorpe,” said Starmer.

He added: “I am fully committed to the production of steel in this country,” and highlighted the “influence” that you will get “in capacity loss” at the SteelWorks factory on the workforce, society and the country.

Chancellor Rachel Reeves told the heads of union calls during the weekend that it was open to the option to bring the British to public ownership, according to people familiar with the conversations..

However, the Minister of Industry, Sarah Jones, confirmed earlier this week that “the best way to move forward is for the company to continue with a commercial business, with special investments, and government representation in support,” rather than being a sustainable feature.

The discussions come after the two sides hit a dilemma on a deal worth 2 billion pounds to switch to the less polluted steel industry. The government offered 500 million pounds of government aid to the Chinese British owner, much less than 1 billion pounds.

A government figure said that the ministers are not considering making a more generous offer to support the UK government to Jenny.

British steel refused to comment.