CRU: Ukrainian Steelmakers Caught in the Crossfire

Steelmakers stand firm in the face of Russian aggression

The invasion of Ukraine led to a sharp and sudden decline in steel production as steelmakers hurried to idle their assets in the face of military aggression. In the weeks that followed, some of these producers restarted their facilities – albeit at reduced capacity utilization. As steelmakers laid out their intentions to ramp up production, most were forced to scale back their plans due to logistical constraints and inflated production costs. Furthermore, total Ukrainian steelmaking capacity has received a major blow with the loss of the facilities located in Mariupol – Azovstal and Ilyich – and the outlook for these assets remains uncertain.