Source: Mysteel
ArcelorMittal has confirmed that its Kryvyi Rih steel plant in Ukraine cannot be restarted following repeated missile attacks on its facilities, and the company expects to record an impairment provision of approximately one billion US dollars related to the asset. The announcement was reported on September 28, 2026.
The Kryvyi Rih plant, one of the largest steelmaking complexes in Ukraine, has been repeatedly targeted during the ongoing conflict. Damage to critical infrastructure including power supply systems, rolling mills, and logistics networks has made it impossible to resume operations safely. The company had previously attempted partial restarts but was forced to halt each time due to new attacks on energy infrastructure.
The expected impairment charge reflects the write-down of damaged assets, reduced carrying value of the plant, and costs associated with the prolonged shutdown. ArcelorMittal had invested significantly in modernizing the facility in recent years, making the financial impact particularly severe.
The loss of Kryvyi Rih capacity further tightens the already constrained European flat steel supply landscape. Ukrainian steel exports have fallen sharply since the conflict began, and the permanent closure of this major facility would remove a significant source of slab and long products from the regional market. European steel consumers and service centers may face continued tightness in certain product categories as a result.
