ArcelorMittal shuts Ukraine's largest steel plant after Russian missile strikes

ArcelorMittal confirmed that its Krivoi Rog steel complex, the largest in Ukraine and located near President Volodymyr Zelenskiy's hometown, will cease production after a series of Russian missile attacks resulted in five deaths and 17 injuries, including one critical case. Mauro Longobardo, leader of the Ukrainian arm, explained that the shutdown aims to protect the plant's infrastructure so production can resume once the conflict ends.

Prior to the attacks, the facility's mining and steel operations were running at significantly reduced levels, accounting for a modest portion of the group's overall steel output. Analysts note that while the closure will have limited impact on global steel supply, it may add pressure to European markets that rely on Ukrainian exports. The decision also ends ongoing cash losses, as the company had been funding the plant's workforce despite low output.