The Government says it is looking at all options to make sure Liberty Steel does not collapse.
More than 200 jobs in Hartlepool hang in the balance after the financial firm which backs the Liberty Steel group, Greensill Capital, filed for administration earlier in March.
Liberty owns a pipe mill in the town which employs around 250 workers.
Business Secretary Kwasi Kwarteng told MPs the Government's infrastructure plans need several million tonnes of steel over the next decade, adding:
"It's absolutely a commitment of mine as Secretary of State to ensure we have a viable steel industry in this country."
He earlier said there is a "strong and united commitment" across management, the unions and Government officials to the steel industry.
Labour is pressing for the Government to consider nationalising the business, which owns 12 steel plants in the UK and employs 5,000 people, arguing it could offer the best value for money.