France’s metals sector is set for very modest growth and, in some cases, declines as major producers hold back on investment. Steel will continue to dominate the country’s metals industry; however, we do not expect any significant new investment over the coming years. ArcelorMittal and Rio Tinto, the two largest producers in the country are facing up to an increasingly hostile and competitive operating environment with cheap steel and aluminium being exported from China. We therefore do not expect France to return to pre-2008 rates of production over the foreseeable future. The relatively strong performance the French steel industry enjoyed …
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