ReutersParliament will be recalled on Saturday for an emergency debate on the future of British Steel's plant in Scunthorpe.
A government source says it is looking "to take control"' of the company, after its Chinese owner said its blast furnaces are "no longer financially sustainable".
Talks have been taking place this week talks to keep production going at the firm, which employs 2,700 people.
Politicians left Westminster for their Easter break on Tuesday, and were not due to return until 22 April.
Ministers had expressed a preference for a commercial solution to secure the long-term future of the plant.
But they had not ruled out nationalising the firm, saying all options remained on the table.
The House of Commons said MPs would discuss proposed legislation "to ensure the continued operation of British Steel blast furnaces".
Chinese company Jingye, which bought British Steel in 2020, says it has been suffering financial losses of around £700,000 a day.
