steel

The UK has appropriated its last working steelworks, following fears its former Chinese owners would shut it down.

Beijing has warned the United Kingdom that its nationalisation of British Steel has “severely undermined” Chinese companies’ confidence in investing in the UK.

The UK nationalised the loss-making company on Thursday in what the government said was a move taken to protect national interests.

British Steel is the only source of primary steelmaking in the UK. It supports approximately 2,700 jobs across its main steelworks in Scunthorpe and across the wider supply chain.

The company’s former owner, Jingye – which is among the 100 biggest companies in China – bought British Steel for 70 million pounds ($94m) in 2020. By 2025, Jingye said it was losing 700,000 pounds ($942,000) every day.

British Steel’s nationalisation has been in the works for more than a year.

In March 2025, Jingye carried out a consultation that concluded that the British Steel furnaces were not financially sustainable. The following month, it emerged that Jingye had cancelled orders for a key material used in the steelmaking process, stoking fears that it was planning to shut down the blast furnaces.

That month, the UK government seized operational control of British Steel from Jingye to stop that from happening. The Chinese company retained ownership, but lost operational control.

Thursday, though, saw ownership officially transfer to the UK government, which says it will appoint an independent valuer to “assess whether any compensation is payable” to Jingye.

The process has angered Beijing. The expropriation of British Steel “seriously damaged” Jingye’s legitimate rights and interests and “severely undermined” Chinese companies’ confidence in investing in the UK, China’s Ministry of Commerce said in a statement on Friday.

The UK, the ministry said, has “forcibly” taken over the company and “disregarded” Jingye’s contributions to the British economy and society.

The ministry urged the UK to fulfil obligations under the China-UK Investment Protection Agreement and said it would assist Chinese companies in protecting their rights.

Published on
30/06/2026 – 12:27 GMT+2

The EU has allocated import quotas for steel to its trading partners on Tuesday in an attempt to fight growing overcapacity from foreign producers.

ADVERTISEMENT

ADVERTISEMENT

The measure comes amid rising tensions between the EU and china China, where most of the global steel surplus originates.

Seeking to shield its market from global overcapacity, EU legislators agreed last April to increase existing tariff-free steel quotas to 18.3 million tonnes per year while doubling tariffs beyond those quotas to 50 percent

The EU’s closest allies, such as the UK, Switzerland and Ukraine, are concerned that their own exports to the EU could be drastically affected by the new measures, and have heavily lobbied the European Commission in recent weeks for preferential access to the EU market.

“We are providing market participants with predictability through clear and transparent quota distribution rules, while applying a fair and objective methodology,” EU Trade Commissioner Maroš Šefčovič said in a statement.

Protectionist move

The protectionist move comes as global steel overcapacity is expected to grow to 721 million tonnes by 2027, according to the OECD, a volume that could threaten jobs across the entire EU steel sector.

The EU came under even greater pressure last year when the US imposed 50 percent tariffs on steel imports, rerouting the global surplus to the European market.

“They built a wall around their market, steel was hitting that wall and was coming back to our market in greater numbers,” a senior EU official said. “That is why we introduced a safeguard measure which followed an investigation.”

The EU is also fighting unfair trade practices across the board with 80 other measures already in place, among them anti-dumping duties, most of which target cheap steel imports from China.

Pressed by its closest allies to ease the measures to their benefit, the Commission announced on Tuesday that half of the 18.3 million tonnes allowed to enter its market each year will be allocated to partners bound by free trade agreements with the bloc, including India, Switzerland and the UK.

Many of the countries that have clinched a trade deal with the EU will be allocated country-specific quotas proportionate to the volumes traded with the EU between 2022 and 2024.

A special status has also been granted to Ukraine to support the country while it remains at war and ensure a certain level of exports to the EU.

GLADIATORS star Steel and his wife Samantha have welcomed a baby boy just over a year on from the tragic death of their son.

The couple’s second- born, Leo, died 14 months ago after being bornprematurelye at 23 weeks.

Steel — real name Zack George — said the arrival of their newborn will help heal them following the loss of Leo, who lived for just 13 days.

Writing on Instagram this evening, the 35-year-old said: “You will heal us more than you will ever know.

“We love you so much…Our baby boy.”

Friends and fans were over the moon for the pair.

SAD SPLIT

Gladiators’ Giant announces SPLIT from OnlyFans girlfriend who he quit show for

ONTO THE NEXT

Gladiators star Jamie ‘Giant’ Biggs’s replacement revealed after BBC axe

Kate Lawler said: “Congratulations to you both. You deserve so much happiness x.”

Harry Aikines-Aryeetey, aka Gladiator Nitro, wrote: “Massive congratulations! Beautiful!”

Matty Campbell, better known as Bionic, posted: “Over the moon for you both.”

Zack and Samantha are also parents to Ivy, three.

The couple bravely shared late son Leo’s fight with followers last year.

He was initially placed on a ventilator, but after responding well he was taken off it and provided with CPAP, a non-invasive way of keeping airways open.

However, when he was retubed after six hours, it is believed accidental damage was done to his windpipe.

As well as suffering from brain bleeds, a hole in the heart and collapsing lungs, air pockets began to form around his lungs.

Zack told the Mirror: “Around the tenth day they started getting a bit bigger. They came to the conclusion that when they tubed him, either the first or the second time, they created a hole in his windpipe. It’s no one’s fault, a baby that young is really fragile; it’s just a risk.

“That was really hard, because if it hadn’t happened, he would probably still be here. A 23-week-old baby has so much to do. Overnight, he got quite bad, that’s when we went in and he passed away.”

The couple decided against giving Leo CPR having already witnessed him go through so much.

Zack announced Leo’s tragic death with a heartbreaking picture of he and Samantha holding him.

The Senate has confirmed Michelle Steel, a former two-term Korean American congresswoman, as the United States’ ambassador to South Korea.

The upper chamber approved Steel in a 55-39 vote on Wednesday (U.S. time), clearing the way for her to take the ambassadorial post as Seoul and Washington face a series of joint tasks, including “modernizing” their alliance and implementing bilateral security and trade agreements.

In April, U.S. President Donald Trump nominated her for the ambassador post, which has been left vacant since former Ambassador Philip Goldberg left Korea in January last year.

Steel would become the second Korean American to serve as the U.S.’ top envoy to South Korea, following former Ambassador Sung Kim, who served in Seoul as ambassador from 2011-2014.

The South Korean government granted agrement on Thursday, the host country’s prior consent for the appointment of a foreign envoy, for Steel’s appointment, according to Seoul’s foreign ministry.

With administrative procedures on both sides effectively completed, observers say Steel is likely to take up her post no later than next month.

“The exact timing of her arrival will depend on remaining U.S. procedures, including the issuance of her credentials by U.S. President Donald Trump,” a ministry official said. “We expect Steel to contribute to strengthening the alliance between the two countries once she formally assumes her post.”

During her confirmation hearing last month, she vowed to ensure that American companies operating in South Korea are not discriminated against, if she is confirmed.

While in Congress, Steel was active in pushing for legislation to address the issue of Korean Americans who have been separated from their relatives in North Korea in the wake of the 1950-53 Korean War.

She was first elected to the House in 2020 and then reelected in 2022. She lost to her Democratic rival by a small margin in the 2024 general election.

She previously served as a member of the Orange County Board of Supervisors and the California State Board of Equalization.

Her husband is Shawn Steel, an attorney who served as the California Republican Party chairman from 2001 to 2003. He has been the Republican national committeeman from California since 2008.

Born in Seoul in June 1955, Steel grew up and studied in South Korea, Japan and the U.S. She speaks fluent Korean.

She earned a bachelor’s degree from Pepperdine University in Malibu, California, and an MBA from the University of Southern California in Los Angeles.

Copyright (c) Yonhap News Agency prohibits its content from being redistributed or reprinted without consent, and forbids the content from being learned and used by artificial intelligence systems.

A precise figure of how much full nationalisation of British Steel could cost has not been announced and it is understood that following legislation an independent valuation would be carried out of the business, to see what, if any, compensation might be due to Jingye.