The UK has brought British Steel back into public ownership to preserve the country's primary steelmaking capacity.

The Department for Business and Trade seized control of the company after its Chinese owner, Jingye Group, planned to shut down the blast furnaces at the Scunthorpe plant. These furnaces are the sole remaining facilities in the country capable of producing primary steel from raw materials.

According to Business Secretary Peter Kyle, the move is to secure domestic steel supplies for defense and large-scale construction while saving 2,700 local jobs.

State officials had already managed operations since last year before completing the expropriation. An independent valuer will now assess whether Jingye will receive financial compensation.