Talks to save British Steel reach crunch point

Talks aimed at saving steel production in Scunthorpe are deadlocked over who will pay for the raw materials needed to keep the blast furnaces going.
The materials need to be paid for within the next two days, according to government sources, or production will cease at the British Steel plant within weeks and cannot be restarted.
British Steel’s Chinese owner Jingye say the furnaces are “no longer financially sustainable” and they are unwilling to purchase new raw materials.
Talks are set to resume between British Steel bosses and government officials on Thursday, with unions saying the situation is on a “cliff-edge”.
The government has not ruled out nationalising British Steel, which employs 2,700 people, saying all options remain on the table.

Source: BBC