Ukraine Produces No Steel for the First Time in 100 Years

Ukrainian metallurgy is in a critical state due to Russian strikes. Five furnaces have been destroyed at Metinvest Enterprises, two more at ArcelorMittal Kryvyi Rih, and several key plants are virtually out of operation.

Oleksandr Vodoviz, Head of the Office of the CEO of Metinvest Group, announced this during the Forbes Ukraine Economic Sustainability Forum.

According to him, Metinvest Enterprises, ArcelorMittal Kryvyi Rih, Dnipro Metallurgical Plant, and Interpipe suffered serious damage.

“Absolutely all the factories were destroyed. There were several hits. Many people died. We are not working,” Vodoviz said.

He also reported that in September, Ukraine did not produce a single ton of steel for the first time in 100 years.

According to the top manager, Metinvest tried to restore Zaporizhstal’s operations, but after starting the furnace, it worked for only about 10 hours before the enterprise was hit again.

The water carrier explained that launching one furnace costs at least $50 million, and building a new one costs about $500 million.

“We have all five furnaces broken. Arcelor has two broken. That’s billions of dollars,” he said.

The company has not yet announced the total amount needed for restoration, as the security situation remains unstable.

The water carrier noted that Metinvest currently does not plan to invest significant funds in reconstruction until it becomes clear how the situation will develop further.

Recall that on September 21, Russian strikes disabled Ukraine’s main metallurgical enterprises, which previously provided about 90% of the country’s steel production.

Earlier, Russian troops attacked Zaporizhstal and ArcelorMittal Kryvyi Rih. The strikes resulted in deaths and injuries, and the equipment of the enterprises suffered serious damage.

Also in August, a Russian strike completely halted the operations of Zaporizhstal, killing seven employees of the company.

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