ArcelorMittal Halts Kryvyi Rih Plant After Russian Strikes, $1B Impairment

ArcelorMittal has fully suspended operations at its Kryvyi Rih steel plant following four Russian missile strikes that killed five and injured 17 over five weeks, and expects a ~$1B non-cash impairment. The shutdown removes a major Ukrainian steel producer from the market, potentially tightening global supply, while underscoring the escalating cost of Russian attacks on Ukrainian industrial infrastructure.