Britain nationalizes British Steel, owned by China, to safeguard steel production

In July 2026, the British government nationalized the "British Steel" company, which was owned by China, to protect national security manufacturing capacity and jobs. This move followed an attempt by the Chinese owner to shut down the smelting furnaces at the Scenteroth plant in northern England. The company was taken under control to ensure the continued supply of domestic steel to support construction projects and the defense industry, with an independent assessment planned to compensate the Chinese-owned Gingi Group, the previous owner. Currently, the company employs around 2,700 workers. The measure aims to stabilize the sector and develop a sustainable, long-term, carbon-free steel industry.

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