Amid financial turmoil, the UK government has taken control of British Steel after its owner, Jingye Group, deemed operations unsustainable. On Saturday, legislation was passed approving this move to protect the Scunthorpe plant from closing, as it reportedly loses £700,000 daily. China has responded by urging the UK to treat its enterprises fairly to maintain investor confidence. New executive appointments aimed at stabilizing operations include two seasoned British Steel leaders. Meanwhile, concerns grow over the plant's ability to secure necessary raw materials, critical for the production of virgin steel, as the government races against time to prevent shutdowns.