Troubled steel firm Corus says it is still assessing the future of its Redcar complex, after announcing a cut in losses.

The future of the Corus plant is uncertain after the company said it no longer required the slab steel it makes.

The company, formed by the 1999 merger of Dutch Hoogovens and British Steel, has already announced it plans to axe 12,000 jobs.

The Teesside operation makes raw steel in slab form for processing into finished products in other plants.

Corus chief executive Phillipe Varin said the firm was continuing to consider options for the Teesside works.

Options include a total sell-off or a joint venture project, which could safeguard some jobs.

Earlier this year a parliamentary investigation into the future of the steel industry, suggested groups like the Teesside Steel Task Force should get more powers, and there should be a national steel strategy.

The task force was set up to look at options for the Redcar site.