Ukraine loses up to 7% of GDP after metallurgical plants halt
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Ukraine has lost up to 7 percent of GDP after all four of its largest metallurgical plants ceased operations following explosions in August and September 2026. The halt may also cost the country more than 13 percent of its foreign currency earnings. ArcelorMittal said it cannot restore operations at the ArcelorMittal Kryvyi Rih plant, the last major facility still running, after attacks on the nights of September 12 and 21.
Key Facts
- Ukraine's GDP loss is estimated at up to 7 percent due to the metallurgical crisis.
- Foreign currency earnings losses may exceed 13 percent.
- ArcelorMittal Kryvyi Rih, the largest metallurgical plant, halted after attacks on September 12 and 21.
- Interpipe Steel stopped operations on September 22.
- Zaporizhstal and Kametstal halted on September 18.
Plant Shutdowns
All four of Ukraine's largest metallurgical plants have ceased operations following explosions in August and September 2026. ArcelorMittal Kryvyi Rih, the largest, stopped after attacks on the nights of September 12 and 21. Interpipe Steel halted on September 22, and Zaporizhstal and Kametstal stopped on September 18. The Dnipro Metallurgical Plant had already effectively ceased operations earlier due to financing problems and also suffered explosions in early September.
Economic Impact
The shutdowns have cost Ukraine up to 7 percent of GDP. Foreign currency earnings losses may exceed 13 percent. ArcelorMittal stated it cannot restore operations at the Kryvyi Rih plant.
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