The French National Assembly adopted, on first reading on late Nov. 27 a bill proposed by France Insoumise, against the advice of the government, aimed at nationalizing ArcelorMittal France.
The bill passed with the support of left-wing groups, and it will now go to the Senate, dominated by right and the center groups. The debate was seen by S&P Global Energy on the website of the National Assembly.
“We are facing unfair competition, and nationalization does not solve this problem in any way,” Alain Le Grix de la Salle, president of the French operations of ArcelorMittal, said at France info radio before the vote.
“Our sites are now exposed to global overcapacity and destructive imports from European markets,” he said.
The government also argued that the battle must be played out in Brussels.
France is not alone in facing industrial decline. The UK nationalized British Steel in April 2025 after owner Jingye threatened to shut Scunthorpe’s blast furnaces, while Italy placed Acciaierie d’Italia under extraordinary administration in 2024 after years of what the government called “underinvestment.”
European producers are squeezed between weak demand and a surge of cheaper, often subsidized imports.
The EU is preparing tougher trade-defense measures — including tighter quotas, higher tariffs and stricter “melt-and-pour” origin rules — to protect the sector as it shifts to low-carbon production.
According to worldsteel figures, France produced 10.76 million mt of crude steel in 2024, recovering by 7.6% after a drop of 17. 5% in 2023.
