ArcelorMittal says Kryvyi Rih plant cannot safely resume work after attacks

ArcelorMittal has announced it cannot safely resume operations at its Kryvyi Rih steel plant in Ukraine following four rocket attacks over the past five weeks, which killed five workers and injured 17 others. The company has informed the Ukrainian government of its decision, citing the latest strike on September 21 and significant damage to production facilities. CEO Mauro Longobardo said discussions are underway with authorities about the plant's future, focusing on preserving infrastructure for potential post-war restart. Since Russia's full-scale invasion in February 2022, ArcelorMittal has provided over $700 million in financial support to the Ukrainian enterprise and expects to record approximately $1 billion in non-cash asset impairment. The broader Ukrainian metallurgy sector faces a deep crisis due to shelling, port blockades, and high energy and railway costs.