First, the official version. The businesses are genuinely complementary. Scunthorpe is a specialist in rail tracks and other "long products" like reinforcing bars used in construction. Jingye doesn't make these. British Steel gives it new products and new markets.
Second, Chinese steel is not welcome in all parts of the world.
Indeed, it was the flood of steel coming from Chinese overproduction that saw the UK steel industry have a near death moment in 2016 before strong EU anti-dumping measures that imposed big tariffs on Chinese steel imports offered the industry a degree of protection.
Some industry watchers are suggesting that Scunthorpe, and British Steel's plant in Hayange in France would allow Jingye to import raw steel from China, finish it into higher value products and stick a "Made in UK" or "Made in France" badge on it.
Peace of mind for big customers like Network Rail in the UK or French ones like SNCF. It would also make exports to the US quite a bit easier than they are now.
Third, and connected to the second, there is some valuable intellectual property and expertise that Jingye is acquiring along with the sites themselves.
Sources close to Jingye told the BBC that there was still some work to do to clinch the deal and so did not want to comment at this stage. That's fair enough and a useful reminder this deal is not yet in the bag.
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