Steel Industry News – Late July 2026

A board of directors has been appointed to British Steel following the company’s nationalisation by the UK government.  The directors will work with the business’s executive leadership team to shape the future of the company.

Their appointments come as the government gears up for a legal contest with the company’s former Chinese owner over the nationalisation. Jingye Group has indicated it could use arbitration in the international courts to claim up to £1bn worth of compensation.

British Steel’s move into public ownership happened 15 months after UK ministers took operational control of the business from its Chinese owner.  Jingye had threatened to close Scunthorpe’s two blast furnaces – with the potential loss of thousands of jobs – and replace them with a new electric arc furnace.

Sourced from TheBusinessDesk