British Steel is considering closing its two blast furnaces in Scunthorpe, which would put up to 2,700 jobs at risk. The company claims the furnaces are no longer financially viable due to market conditions, tariffs, and rising environmental costs. Although British Steel sought a £1 billion government injection, only £500 million was offered. The company continues to consult with unions and explore options for its future, including transitioning to electric arc furnace steelmaking. — news from BBC.com