The European steel industry faces a major crisis, with up to one-third of its capacity at risk due to rising energy costs and competition from low-cost imports that do not meet EU environmental standards. Alain Le Grix de la Salle, Chairman of ArcelorMittal France, has warned that all European production sites are under threat if the EU does not take decisive action. High gas prices—four to five times higher than in the U.S.—combined with a 4% annual decline in steel demand have already led to a 20% market contraction over the past five years. The company has suspended decarbonization investments in Dunkirk, with further plans in Ghent uncertain until CBAM regulations are revised and new protective measures, such as the Steel and Metals Action Plan, are introduced in 2025.

ArcelorMittal is urging the EU to reform CBAM regulations to ensure fair competition, strengthen trade protections, and accelerate initiatives like the Clean Industrial Deal. The company stresses that while imports are necessary, their volumes must be controlled to prevent further damage to Europe’s steel industry. Without urgent intervention, job losses and plant closures could escalate, undermining the region’s economic stability.

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