ArcelorMittal Shuts Plant in Kryvy Rih Due to Russian Strikes, Expects $1B Impairment Charge
The company expects a $1 billion impairment charge as it discusses preserving the plant’s infrastructure with Ukraine’s government.
- ArcelorMittal halted operations at its Kryvyi Rih plant on Friday, stating that "safe and sustainable" operations are impossible after four strikes in five weeks killed five workers at the southeastern facility.
- Persistent Russian missile and drone strikes prompted the shutdown, following an escalation of attacks on Ukraine's metallurgical sector that included ballistic missile strikes on industrial facilities in Kryvyi Rih on Monday, September 21.
- The facility produced 23% of Ukraine's steel and 24% of its rolled products in 2025, prompting ArcelorMittal to expect a non-cash impairment charge of about $1 billion due to extensive damage.
- With 12,500 employees and 3,500 contractors affected, this closure deals a major blow to Ukraine's steel sector, which previously accounted for 15 per cent of the country's exports.
- ArcelorMittal is discussing the plant's future with the Ukrainian government to preserve infrastructure for post-war operations, as Russia continues its broader campaign against industrial sites and civilian infrastructure across Ukraine.
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15 Articles
(Seoul = Yonhap News) Reporter Ko Il-hwan = Ukraine's largest steel mill has suspended production as Russian airstrikes intensify, Reuters reported on the 25th (local time).
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Ukraine's largest steel plant to shutter amid recurring Russian strikes
Steelmaker ArcelorMittal said it was shutting production at Ukraine's largest steel plant, underscoring the growing economic toll of Russia's airstrikes that on Friday killed seven people in Kyiv including a 14-year-old boy and injured more than 50.
The company said it cannot safely resume operations at its subsidiary in Ukraine after missile attacks killed five people and injured 17 employees and expects to record a depreciation of $1 billion.
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