British Steel to replace Scunthorpe furnaces, putting up to 2,000 jobs at risk

British Steel has announced a £1.25bn plan to replace two blast furnaces in Scunthorpe, in a move that would further reshape the UK steel industry and could eventually threaten the jobs of up to 2,000 steelworkers.

The company, owned by China’s Jingye, on Monday informed workers that it proposes to replace the blast furnaces with greener electric arc models, rejecting the possibility of capturing the carbon in a blow to the nascent British…