Russian attacks halt 90% of Ukraine's steel output, risking 7% of GDP

Forbes Ukraine estimates that Russian attacks have halted nearly 90% of Ukraine's steel production, potentially costing the economy 6.5-7% of GDP in the worst-case scenario. The industry's recovery depends on security, workforce preservation, and stable logistics. Since early 2026, Russia has attacked key mining and metallurgical enterprises at least 30 times, damaging or destroying seven blast furnaces and killing 18 workers. In September, Ukraine went a week without producing any steel for the first time in 100 years, according to Metinvest CEO office head Oleksandr Vodoviz. The sector generated $6.2 billion in exports and 5.5% of GDP in 2025. Each metallurgy job supports 7.5-8 jobs in related industries, and the halt threatens $5-7 billion in currency revenue and 30-40 billion hryvnias in budget receipts. AMKR is negotiating with the presidential office on worker safety and potential layoffs.