Overview

• ArcelorMittal has announced its intention to invest €1.2 billion in an electric arc furnace at its Dunkerque site, aiming for completion by 2028.
• The investment is conditional on the European Union enacting stricter steel import quotas (15%) and carbon-border adjustment mechanisms to ensure fair competition.
• Despite the investment announcement, the company is proceeding with its plan to cut 636 jobs across seven sites in France, citing the need to improve competitiveness.
• Unions have criticized the announcement as a public relations maneuver, emphasizing the continued threat to jobs and calling for stronger worker protections.
• President Emmanuel Macron has pledged government support for the steel industry, including tougher import restrictions and energy price agreements, to bolster the sector's competitiveness.