British Steel at risk of running out of materials

British Steel is at risk of running out of raw materials within weeks, raising fears over the company’s future.

The government is considering nationalising the steel company which has said its two main furnaces are “no longer financially sustainable”, prompting fears the some 2,700 jobs could be lost.

Simon Boyd, managing director of REIDsteel, a British Steel customer, told the BBC that government intervention was the “only solution if we want to keep steel making in the UK”.

He said the firm’s Chinese-owner Jingye only has “days left to secure the order of materials to prevent the forced closure of the blast furnaces over the next month”.

https://www.bbc.co.uk/news/articles/cgrggwxzd2jo