The most common and most likely answer to this crossword clue is the 6 plus 6 letter word PUBLIC SECTOR
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Buddy explains!
The straight part
We know that "which contained British Steel" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case which contained british steel = public sector.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does PUBLIC SECTOR mean?
PUBLIC SECTOR adjective- Of or relating to a public sector.