Jingye Group, the Chinese owner of British Steel, asked the British government to provide financial support to maintain the two blast furnaces’ operation at its Scunthorpe plant. Without support, many employees might lose their jobs.

British Steel is facing a global economic recession, increasing inflation, high energy prices, and carbon emission issues. Therefore, financial assistance was necessary.

The British government has provided more than US$870 million to help steel manufacturers to ease high electricity costs since 2013.