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.
China should not be made a "scapegoat" for the collapse of the UK's steel industry, Sir Vince Cable has said.
The Liberal Democrat former business secretary accused the Treasury of holding back with financial assistance that could help relieve pressures.
He said David Cameron should urge action from Beijing to curb production and noted there was a technical question to be examined over whether China was guilty of illegal "dumping".
"There is a technical issue about dumping which is a legal question that you have to prove they are selling below cost," he told BBC2's Newsnight.
"But the bigger issue is that they have massive excess capacity because they are trying to rebalance their economy."
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.