On the evening of November 27, the French National Assembly adopted in the first reading a bill proposed by France Insoumise, contrary to the recommendations of the government, aimed at nationalizing ArcelorMittal France.
The bill was passed with the support of leftist groups, and now it will be sent to the Senate, which is dominated by right-wing and centrist groups. S&P Global Energy followed the debate on the website of the National Assembly.
"We are facing unfair competition, and nationalization will in no way solve this problem," Alain Le Grix de la Salle, president of ArcelorMittal's French division, told France info radio before the vote.
"Our enterprises are now subject to global overcapacity and destructive imports from European markets," he said.
The government also stated that the fight must be waged in Brussels.
France is not alone in facing an industrial downturn. The UK nationalized British Steel in April 2025 after owner Jingye threatened to close the Scunthorpe blast furnaces, while Italy placed Acciaierie d'Italia under emergency management in 2024 after several years of what the government called "insufficient investment."
European producers are caught between weak demand and a surge in cheaper, often subsidized imports.
The EU is preparing tougher trade protection measures, including tougher quotas, higher tariffs, and stricter rules of origin for "melt and pour" to protect the sector as it transitions to low-carbon production.
According to worldsteel, France produced 10.76 million tons of steel in 2024, an increase of 7.6% after falling 17.5% in 2023.
By Annalisa Villa
