A support package of up to £9m has been announced by the Government and Tata Steel to provide support to Scunthorpe steel workers and the local economy.
It comes after Tata Steel confirmed it will cut almost 1,200 jobs at its plants in Scunthorpe and Scotland.
Nicola Sturgeon has promised to "fight" to save the Scottish steel industry as announced efforts to prevent the closures of the country's last two major plants.
Tata's announced mothballing of the Dalzell and Clydebridge plants, creating 270 redundancies, would effectively end steel production in the country.
After the news, the Scottish government said it would launch a new task force that would look for new owners "for some or all of the businesses" as well as supporting workers made redundant.
The group will be led by Scotland's business minister, Fergus Ewing, and will include representatives from Tata as well as the trade unions, local authorities and relevant government agencies.
First Minister Nicola Sturgeon, who will also visit both plants this Thursday, said the Scottish government would "leave no stone unturned in our efforts to keep the plants open and support the 270 staff affected by today's announcement."
As the UK steel industry comes perilously close to collapse, Nina Nannar reflects on her own upbringing in the shadow of Scunthorpe's plant.
Jeremy Corbyn has accused the Government of having no industrial strategy as redundancies mount in the crisis-stricken steel sector.
Caparo Industries is set to go into administration later today, ITV News has learned.