Russian strikes shut Ukraine's biggest steelmaker, kill five in Kyiv
MT•ArcelorMittal is shutting production at Ukraine’s largest steel plant, saying four strikes in five weeks made safe operations impossible. The company expects a non-cash impairment charge of around $1 billion; five people were killed in Kyiv on Friday.
1. Plant halts production
ArcelorMittal said it had informed the Ukrainian government that it could no longer safely and sustainably operate its Kryvyi Rih plant after four strikes in five weeks caused extensive damage and killed five workers. The plant produced 1.7 million metric tons of steel and 7.6 million tons of iron ore in 2025.
2. Impairment and workforce
The company expects to book a non-cash impairment charge of around $1 billion. The site employs about 12,500 people and 3,500 contractors; ArcelorMittal is assessing staffing needs and plans to work with employee representatives and local management on measures to support workers. It said it would preserve the infrastructure so production could potentially restart when peace returns.
3. Deadly attacks in Kyiv
Five people were killed in separate strikes in Kyiv on Friday, including a 14-year-old boy, and seven people were wounded, Mayor Vitali Klitschko said. A Kepler Cheuvreux analyst told Reuters the shutdown’s effect on ArcelorMittal and global steel markets was likely to be limited because the plant had already operated at significantly reduced capacity since 2022.
