Source: ArcelorMittal corporate news release, 25 September 2026; also reported by Reuters and Dow Jones Newswires
ArcelorMittal, one of the world's largest steel and mining groups, announced on 25 September that it has informed the Government of Ukraine it is unable to restart operations at its Ukrainian subsidiary, ArcelorMittal Kryvyi Rih, in a safe and sustainable manner following repeated missile strikes on the site. The Luxembourg-based company said it expects to record a non-cash impairment charge of approximately US$1 billion, principally reflecting the write-down of property, plant and equipment at the Ukrainian operations.
According to the company, the Kryvyi Rih complex was targeted by four missile strikes over the past five weeks, on 17 August, 14 September and 21 September. The attacks claimed the lives of five employees and injured seventeen others, one of whom remains in a critical condition, and caused extensive damage to production facilities. Mauro Longobardo, chief executive of ArcelorMittal Kryvyi Rih, said the company had concluded with deep regret that it could no longer safely operate the site, adding that its workforce had worked tirelessly to keep the mines and the plant running since the war began. He said discussions with the Ukrainian government will focus on preserving the infrastructure, so that options for restarting production remain available when peace finally returns.
ArcelorMittal Kryvyi Rih operates Ukraine's largest steelmaking facility, combining iron-ore mining with integrated steel production, and has already faced severe logistics constraints during the conflict, including curtailed output earlier this year after disruptions to rail transport of raw materials. Since the start of the war in February 2022, the parent group has provided more than US$700 million in financial support to maintain operations and protect its Ukrainian workforce, whose resilience the company described as extraordinary.
The shutdown carries broader implications for the European steel market. Analysts at J.P. Morgan noted that the impairment charge is not expected to affect the group's EBITDA, although some sectoral losses are possible in the third and fourth quarters, and that prolonged supply disruptions at the Ukrainian sites could tighten European hot-rolled coil availability and lend support to regional steel prices. ArcelorMittal generated revenues of US$61.4 billion and produced 55.6 million metric tons of crude steel in 2025.
