Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
British A645 Grade A steel Steel has stated that its two blast furnaces in Scunthorpe are facing liquidity risks, and without government support, 2700 jobs could be lost. Therefore, Chancellor of the Exchequer Rachel Reeves stated that the government will consider nationalization if necessary. Since 2020, the company has been held by Chinese company Jingye. Jingye stated that it has invested over £ 1.2 billion in British Steel to maintain operations and suffers financial losses of approximately £ 700000 per day. Currently, the UK A645 Grade A steel government is considering nationalizing British Steel, but Business Secretary Sarah Jones has stated that it is best for British Steel to continue operating as a commercial company while respecting workers, ensuring employment, and maintaining A645 Grade A steel production. The government will provide financial support at the appropriate time.
