British Steel is poised to unveil 300 job cuts at its Scunthorpe plant, following mounting challenges for the UK's metal making industry.

British Steel is expected to announce today plans to shut down coking ovens at its Scunthorpe headquarters resulting in hundreds of job losses, BBC News reported.

It is unclear how long the closure will take, and how many compulsory redundancies will be made.

It follows recent reports that British Steel has been considering 800 job cuts at its Scunthorpe flagship plant, which operates two of Britain’s remaining four blast furnaces.

The cost-cutting move comes as Britain’s steelmaking industry faces soaring energy costs alongside rising inflation and global economic slowdown.

The announcement will complicate ongoing negotiations between British Steel's Chinese owner and the Treasury over a proposed £300m taxpayer support package.

Ministers have hopes that state intervention would avoid major closures or job losses at British Steel, which employs around 4,000 people.

The funding would also be used for the steelmaker’s plans to decarbonise by replacing its blast furnaces with electric alternatives.

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