ArcelorMittal halts Kryvyi Rih restart

ArcelorMittal (ARRDd) has told the Ukrainian government it is unable to safely and sustainably restart operations at its Kryvyi Rih steel plant following a series of missile attacks. The company described the decision, announced on 25 September 2026, as a response to the current security conditions at the site and the assessment of risks to workers and facilities.

The Kryvyi Rih complex was struck four times over a period of five weeks, with the most recent missile attack taking place on 21 September 2026. These strikes directly affected production facilities at the steelworks, undermining the ability to resume normal operations in the near term.

The attacks on the Kryvyi Rih plant resulted in casualties among ArcelorMittal’s (ARRDd) workforce. The company reported that five employees were killed in the strikes. A further 17 people were injured, and at least one of those injured was reported to be in critical condition.

The loss of life and injuries were cited as key elements in the company’s determination that a restart under current conditions would not be safe or sustainable. The focus has shifted from production to ensuring the security of personnel and the stability of the remaining infrastructure.

ArcelorMittal said it expects to recognize a non-cash impairment charge of approximately US$1 billion in relation to the Kryvyi Rih operations. The charge will principally reflect the reduced value of property, plant and equipment at the steelworks following the damage inflicted by the missile strikes.

As a non-cash item, the impairment reflects a reassessment of asset values rather than an immediate cash outflow, but it represents a significant financial impact on the company’s investment in Ukraine. The strikes and resulting write-down highlight the scale of the disruption to industrial assets at the site.

While operations are not being restarted, ArcelorMittal stated that it will concentrate on preserving the infrastructure of the Kryvyi Rih plant. Efforts will be directed toward maintaining the site so that it remains technically capable of resuming production at a later date.

The company is in discussions with the Government of Ukraine about the future of the steelworks. Both sides are considering options so that, when security conditions permit, restarting production at Kryvyi Rih remains a viable possibility. For now, the facility’s status reflects a long-term pause rather than a dismantling of its industrial base.