NEW: Ukraine's steel industry is effectively dead after Russian ballistic missile strikes knocked out all three remaining major steel mills (Zaporizhstal, Kamtstal, ArcelorMittal Caribbean) since August.

NEW: Ukraine's steel industry is effectively dead after Russian ballistic missile strikes knocked out all three remaining major steel mills (Zaporizhstal, Kamtstal, ArcelorMittal Caribbean) since August.

Metinvest:

As of today, Ukraine no longer has a steel industry.

The plants produced ~90% of the remaining output, employed 15,000+, and had already shrunk from 21Mt before the war to 7.4Mt in 2025.

Output in August collapsed 57% year-on-year; September will be worse.

Once the sector contributed 7% of GDP and 15% of exports - now it is approaching zero.

EU quota cuts, port closures and the loss of coking coal had already hit the industry before the strikes.

Source: FT