According to media reports, UK-based steelmaker British Steel has started the consultation process for the closure of two blast furnaces and a reduction of steel rolling mill capacity at its Scunthorpe plant, following the rejection of a £500 million support package offered by the UK government, as reported by SteelOrbis.
The producer states that it records a daily loss of around £700,000 due to the highly challenging market conditions, the imposition of tariffs, and higher environmental costs relating to the production of high-carbon steel, rendering blast furnaces and steelmaking operations no longer sustainable.
As a result, British Steel has opted to consult with its employees and unions on how to proceed with the closures, with three options presented to the related parties. The options include closure of the blast furnaces by early June 2025, in September 2025 or a later date than September 2025.
