9,078.43 TRY BIST 100 BIST 100
38.44 USD USD USD
5.32 CNY CNY CNY
43.71 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
46.98 TRY Interest Interest
62.41 USD Fossil Oil Fossil Oil
40.43 USD Silver Silver
4.69 USD Copper Copper
99.25 USD Iron Ore Iron Ore
325.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,035.64 TRY Gold (gr) Gold (gr)

British Steel announces plans to close blast furnaces at Scunthorpe plant

British Steel has begun consultation on plans to close blast furnaces at its Scunthorpe plant.

British Steel announces plans to close blast furnaces at Scunthorpe plant

The company aims to replace blast furnaces with electric arc furnaces. The plans aim to deliver net zero production through electric arc furnaces to be installed in Scunthorpe and Teeside.

Under plans released to the public today, unions say up to 2,000 jobs could be lost at British Steel, the majority at Scunthorpe. Councilor and steelworker Tony Gosling shared his concerns, stating that Scunthorpe is built on steel and that the steel industry contributes to the growth of the community.

Tony Gosling said, “The steel industry pays well and there are no comparable jobs that pay the same as the steel industry, so my fear is: Where are they going to get the same income to support their spouses, their families and their mortgages?” said.

More than 160 local businesses and groups in the region have backed Unite the Union's appeal to the government, demanding that the transition to net zero or 'green' steel be managed without job losses.

“We are committed to UK steel and are offering a generous support package of over £300 million to help British Steel with its goals of reducing emissions and protecting jobs,” a government spokesman said.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Banu Küner appointed as General Manager at Çelik Halat

Friday, May 2, 2025

TÇÜD: Türkiye's crude steel production decreased by 2.8% in March

Friday, May 2, 2025

Gerdau cancels USD 600 million investment in Mexico due to tariffs

Friday, May 2, 2025

Induction furnace to be banned in Thailand

Friday, May 2, 2025

Tariff response from U.S. economy pressures steel market

Friday, May 2, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now