The company aims to maintain the plant in a state of readiness for future resumption
ArcelorMittal management has decided to use proceeds from the sale of remaining metal products at ArcelorMittal Kryvyi Rih to fund security for the plant's production sites. The facility is currently in the process of halting operations due to security challenges. This was reported by UAprom citing ArcelorMittal, according to the portal PromPolitInform.
CFO Genuino Christino stated during an investor call that the steel plant would require only minimal funds for facility maintenance. Revenue from the sale of existing inventory is intended to cover security expenses over a long period.
Asset preservation and outlook
The company emphasized that current measures are designed to preserve the ability to resume production in the future. Expenditures will be optimized exclusively to the level required for physical protection of the plant’s territory.
Impact on the European market
The ArcelorMittal representative does not expect significant changes to the European steel market following the shutdown of operations in Kryvyi Rih. This is attributed to both prior damage to production lines and existing EU quotas on product imports.
Earlier, ArcelorMittal reported a net loss of 0.4 billion dollars for the third quarter of 2026. This figure includes costs related to the forced suspension of the Ukrainian plant and asset impairment charges.
The plant began transitioning to a cold shutdown mode in October following a series of Russian missile strikes. The attacks caused critical damage to infrastructure, resulting in casualties among personnel and the halting of primary metallurgical processes.
Illustrative photo: Andrew J.Kurbiko / CC BY-SA 4.0
Read also: Shutdown of Ukrainian Metallurgical Plants Caused by Russian Strikes Creates Steel Deficit
