British Steel Faces Closure of Scunthorpe Blast Furnaces After Rejecting £500m Aid

The decision risks up to 2,700 jobs, leaving the UK without domestic primary steelmaking capacity as negotiations with the government continue.

Jingye Group, British Steel's Chinese owner, has rejected a £500 million government aid package, citing insufficient support for transitioning to greener steelmaking.
The company has initiated consultations to close Scunthorpe's blast furnaces, affecting up to 2,700 jobs and threatening the local economy and supply chains.
British Steel reports daily losses of £700,000, blaming market conditions, tariffs, and environmental costs for the site's financial unsustainability.
Unions warn that the closure would leave the UK as the only G7 nation without domestic primary steelmaking, posing risks to national security and infrastructure projects.
The UK government remains in negotiations with Jingye, while unions propose interim plans to maintain operations during the transition to electric arc furnaces.