ArcelorMittal Halts Ukraine's Second-Largest Steel Plant in Kryvyi Rih After Repeated Russian Strikes

ArcelorMittal announced it has completely halted operations at its Kryvyi Rih steel plant — Ukraine's second-largest steelmaker and President Zelenskyy's hometown — after four Russian missile strikes over the past five weeks killed 5 and injured 17, most recently on September 21. CEO Mauro Longobardo said the company "concluded that we are no longer able to safely operate ArcelorMittal Kryvyi Rih." The plant produced 1.7 million tons of steel (23% of Ukraine's output) and 1.6 million tons of rolled products (24% of national output) in 2025, generating Hr. 70.6 billion ($1.6B) in revenue against a Hr. 8.9 billion ($199M) net loss. ArcelorMittal expects to book a roughly $1 billion non-cash impairment charge and will not resume operations until the war ends. With ArcelorMittal's shutdown, all three of Ukraine's major steel plants — together accounting for about 90% of national steel production — have now halted operations.