Chinese Firm Seeks Compensation Over British Steel Nationalisation

Jingye, the former owner of British Steel, said it will seek full compensation through legal means over the UK government’s nationalisation of the loss-making Scunthorpe steelworks, according to BBC. The government took control of British Steel operations in April 2025 and fully nationalised the plant on Thursday to safeguard what it called a vital national capability. Jingye bought the Lincolnshire plant in 2020 and said in March last year it was losing £700,000 a day. A government spokesperson said draft compensation regulations due in the autumn will set out a process in which an independent assessor would decide what, if anything, is payable.