ArcelorMittal Halts Ukraine's Largest Steel Plant After Repeated Russian Strikes, Books $1B Charge

ArcelorMittal announced on September 26 that it can no longer safely and sustainably operate its Kryvyi Rih plant — Ukraine's largest steelmaker, producing 1.7 million tonnes of steel and 1.6 million tonnes of rolled products in 2025 (23% and 24% of national output) — after four Russian missile strikes over five weeks killed 5 workers and injured 17, including an August 16 strike (2 killed, 13 injured, blast furnace and energy units damaged) and a further attack on September 21. The company expects to book a roughly $1 billion non-cash impairment charge and said it has provided about $700 million in financial support to the plant since the February 2022 invasion. CEO Mauro Longobardo said the company is discussing the plant's future with the Ukrainian government while focusing on preserving infrastructure for an eventual restart. The shutdown means all three of Ukraine's main steel plants, which together accounted for roughly 90% of national steel production, are now offline due to repeated Russian strikes.