Jingye has said the Scunthorpe plant is losing 700,000 pounds ($910,000) a day as a result of challenging market conditions and increased environmental costs.
UK lawmakers approve rescue of British Steel in emergency parliamentary session
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Jingye, which has said the Scunthorpe plant is financially unsustainable due to “challenging market conditions,” tariffs and increased environmental costs, has for months sought a government rescue but discussions have failed to reach a successful outcome.
U.K. government recalling Parliament for emergency legislation to save British Steel
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