Ukraine's steel industry halted after Russian strikes, Metinvest says

September 20, 2026 at 02:20 PM2 min

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Russian strikes have knocked out or idled Ukraine's key steel plants, eliminating about 90% of the country's steel output, Metinvest executive Alexander Vodoviz told the Financial Times on Sunday. More than 15,000 workers face loss of income, and the halt threatens tax revenue for a budget already under record deficit pressure.

Key Facts

Three largest steel plants in Zaporizhzhia and Dnipropetrovsk regions were knocked out, accounting for 90% of Ukraine's steel output.
Metinvest and ArcelorMittal facilities, including the Kryvyi Rih plant, are idle due to massive Russian attacks.
More than 15,000 workers are at risk of losing their main source of income, according to Vodoviz.
Ukraine's nominal steel production capacity fell from about 42 million tonnes to 16.5 million tonnes per year by 2025, according to GMK Center analysis.

Industry Shutdown

Alexander Vodoviz, head of the CEO's office at Metinvest, said on Sunday that Ukraine no longer has a working steel industry. The three largest plants, located in Zaporizhzhia and Dnipropetrovsk regions, were knocked out and together accounted for 90% of the country's steel output. Metinvest and ArcelorMittal enterprises, including the Kryvyi Rih plant, are now idle due to massive attacks by Russian forces. Vodoviz told the Financial Times that Metinvest cannot yet estimate how long it will take to restore the damaged facilities.

Economic Consequences

More than 15,000 workers face the loss of their main source of income as a result of the Russian strikes, Vodoviz said. The shutdown could have serious consequences for tax revenues to Ukraine's budget, which is already under record deficit pressure. Prime Minister Serhiy Koretsky previously described the state treasury situation as close to critical.

Long-Term Decline

Ukraine's nominal steel production capacity fell from about 42 million tonnes to 16.5 million tonnes per year by 2025, according to GMK Center industry analysis. The war has already cost Ukraine a significant portion of its steel assets over several years.