UK Seizes British Steel From China’s Jingye as Beijing Files Formal Protest | Metals Mine

  • UK Seizes British Steel From China’s Jingye as Beijing Files Formal Protest

    From easternherald.com

    The furnaces at Scunthorpe had been burning through £700,000 per day in losses when Jingye Group, the Chinese company that paid £70 million for British Steel in 2020, concluded in 2025 that the steelworks were no longer financially viable. What followed was not a controlled wind-down. It was a sequence of escalating government interventions that ended on July 17 when the UK formally transferred full legal ownership of British Steel from Jingye to the state, triggering a formal protest from Beijing that described the action as having “seriously damaged” the legitimate interests of Chinese investors in Britain. ... (full story)

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Trader#8CF4
20 hr ago
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So as his last move on the way out the socialist starmer decides to nationalize the steel industry? Britain will be venezuela in a decade.
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TheDazman
17 hr ago
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Maybe you weren't paying attention, but the CCP had been sabotaging it. That's why it has been seized.
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Polimini
15 hr ago
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It was theirs. Here's a crazy idea: If the UK wanted to have control maybe they shouldn't have sold it.
And if they want it back they should compensate them. China is in the right here, and he is true this is what socialist Venezuela used to do.
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Charliegold
17 hr ago
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Are you interested in forex
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Polimini
15 hr ago
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it isn't forex unrelated news. A trade war between them could impact forex.
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