Over the past three years, Tata Steel has been spending close to GBP120 million/year maintaining Port Talbot.

Exports to the US fell significantly in that period, amid the 25% Section 232 tariff.

ArcelorMittal Poland to idle Krakow blast furnace on November 23.

US raw steel capacity utilization declined to 80.5% last week from 81.6% the previous week.

Following months of uncertainty, thousands of British Steel workers are feeling cautiously optimistic.

"Improving product quality should be a major priority, to use high standards to push forward high quality development of the industry."

A source had already confirmed that a deal was in the works earlier on Monday, amid press reports that Jingye would pay 70 million.

CISA data showed their member companies have seen a 32 percent drop in profits.