PA MediaA consultation which had put 2,700 jobs at risk at British Steel will not continue, it has been confirmed.
The company, which is now under government control, has withdrawn the paperwork submitted to the Department of Business and Trade by its previous management in March.
Officials said the move was part of ongoing efforts to stabilise production and followed the confirmation of a secure supply of raw materials for the site.
Lisa Coulson, interim chief commercial officer, said it had been a "difficult and worrying time for staff and their families" and the redundancy consultation would close "without action".
Ms Coulson thanked trade unions for their "professionalism and support" and she praised the workforce for its "extraordinary dedication".
She added: "It is your hard work and passion that means steelmaking in Scunthorpe has a bright future.
"Quite simply, British Steel workers are the finest in the world."
PA MediaIndustry Minister Sarah Jones welcomed the announcement which she said would "bring certainty for thousands of hard-working staff for the long term".
Charlotte Brumpton-Childs, the GMB Union's national officer, said the ending of the process was "fantastic news for steelworkers and the people of Scunthorpe".
"It's like a cloud has been lifted from above the whole community," she added.
British Steel has also announced it will no longer need to carry out a "salamander tap" process which is used to temporarily shut down a blast furnace by drilling a hole to remove any remaining hot metal.
Ms Coulson said: "We have been working day and night to ensure we are able to stabilise our operations.
"The work done to secure the raw materials we need for both the Queen Anne and the Queen Bess blast furnaces means we are able to run both continuously."
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