ArcelorMittal is set to invest approximately EUR 1.2 bln (USD 1.34 bln) in a new electric arc furnace (EAF) in Dunkirk, signaling a strong commitment to decarbonizing its steel operations there.
The European steel industry is currently facing its most severe crisis since 2009, which has caused ArcelorMittal to delay some decarbonization projects. However, the European Commission’s Steel and Metal Action Plan announced in March 2025 brings optimism with promises of stronger trade defense and the rollout of carbon border adjustment mechanisms (CBAM).
Revised steel safeguard measures effective April 1, 2025, represent an initial step to curb imports, capped at 15pct of market demand, and implement a CBAM that prevents resource shifting, aiming to restore fair competition in the European steel market.
ArcelorMittal expects these conditions to be in place soon after the summer, allowing it to resume its decarbonization efforts fully. The company continues to work closely with the French government, a key supporter of the steel industry in France and Europe, reinforcing its commitment to a sustainable and competitive steel sector.
1 USD / 0.89 EUR