Full Breakdown
Ukraine’s Steel Industry Crippled by Russian Missile Strikes
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Halted Production at ArcelorMittal Krivoy Rog
ArcelorMittal Krivoy Rog, Ukraine’s largest steel producer, announced a complete shutdown after repeated Russian missile strikes caused extensive damage to its facilities. The plant was hit four times over the past five weeks, most recently on September 21. CEO Mauro Longobardo said the damage prevents a safe and sustainable restart and that the company will focus on preserving the plant’s infrastructure. ArcelorMittal expects to record a charge of roughly $1 billion for the reduced value of the facility and equipment.
Wider Impact on Ukrainian Steel Capacity
The shutdown follows similar stoppages at Zaporozhstal and Kamet Steel, both owned by Metinvest. Together, these three plants supplied about 90 % of Ukraine’s steel output before the 2022 escalation, according to the Financial Times. Prior to the conflict, ArcelorMittal Krivoy Rog produced 4.9 million tons of steel annually. Metinvest’s Aleksandr Vodoviz warned that “as of today, [Ukraine] doesn’t have a steel industry anymore,” underscoring the sector’s near-total collapse.
Official Statements & Responses
- It also listed drone production, power infrastructure, bridges, ports, warehouses and logistics hubs among recent targets.
- ArcelorMittal’s statement emphasized the need for a safe restart and outlined the anticipated $1 billion charge.
- Metinvest’s head of the CEO’s office, Aleksandr Vodoviz, said repairs could take “days, weeks, months, or years,” reflecting uncertainty about the timeline for restoring capacity.
Data & Statistics
- Pre-conflict annual output: 4.9 million tons (ArcelorMittal Krivoy Rog).
- Share of national steel production (three plants): ? 90 %.
- Number of strikes on Krivoy Rog in five weeks: four.
- Expected financial impact on ArcelorMittal: ? $1 billion charge.
Verbatim Quotes
- “As of today, [Ukraine] doesn’t have a steel industry anymore,” — Aleksandr Vodoviz, head of the CEO’s office at Metinvest