British Steel has been warning for several days that the raw materials needed to keep its plant's two blast furnaces operational are running out.
The Chinese-owned company says the business is no longer sustainable, and are willing to let the factory cease operations - at the cost of 2,700 jobs.
Labour have 24 hours to buy in new products and make a bid to nationalise the plant.
Will they do it?
Journalist and Video Edit: Ava Santina Evans
Videographer: Oli Johnson
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