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Clear out junk files and repair common Windows errorsFree Scan →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Ukraine’s steelmaking is under severe pressure, but the available evidence does not establish that the country’s entire steel industry is about to collapse. A Fortune listing dated October 12, 2026, summarizes Metinvest CEO Yuriy Ryzhenkov’s warning that the company faces an exceptionally difficult period as Russian attacks intensify. The listing is not the full interview, so its summary does not verify further remarks or figures attributed to him.
What the Fortune listing says—and what it does not
Fortune’s Europe-section listing identifies Kamal Ahmed as the author of an October 12, 2026, interview with Ryzhenkov. Its summary characterizes conditions for Metinvest as among the toughest the company has faced since Russia’s full-scale invasion. That supports describing a serious warning about Metinvest’s position; it does not establish that Ukrainian steelmaking has stopped or that collapse is inevitable.
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The accessible listing is not a transcript. The headline’s stark framing should therefore be treated as a warning, not as proof of a nationwide shutdown or as a verified verbatim answer from Ryzhenkov. No additional interview details or direct quotations can be established from the listing alone.
How the crisis has developed
Loss of major capacity after the occupation of Mariupol
In an October 2026 account of a separate interview, Metinvest said it lost about half its steelmaking capacity after Mariupol was occupied and Azovstal and Ilyich Iron and Steel Works were destroyed. The company said it refocused production on its remaining facilities. This is Metinvest’s rounded account of its own capacity loss, not an independently audited measure of Ukraine’s total steelmaking capacity.
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Attacks and suspensions in 2026
Metinvest’s September 2026 account of COO Oleksandr Myronenko’s Forbes interview said attacks in August and September forced Kamet Steel and Zaporizhstal to suspend operations. The company noted that the interview had been recorded before a further attack on Zaporizhstal on September 12, making the account a dated snapshot rather than a statement of the plants’ current status.
Zaporizhstal’s August production report said an August 11 attack damaged energy facilities and infrastructure at the company’s enterprises in Zaporizhzhia. It also reported another attack on the plant, which was already shut down, on August 27. Damage to energy infrastructure and a suspension of operations are distinct reported effects; neither alone establishes the long-term condition of every facility.
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What the production figure can—and cannot—show
The World Steel Association reported 6.5 million tonnes of crude steel production in January 2026 for Russia, other CIS countries, and Ukraine combined, a decline of 8.6% year over year. Because the figure aggregates several countries, it is not a Ukraine-only production statistic and cannot show how much Ukrainian steel was produced that month.
The figure also covers one month and a regional grouping. It should not be combined with Metinvest’s estimate of its own capacity loss or the reports of specific plant suspensions as though the measures described the same facilities, period, or operational effect.
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Is Ukraine’s steel industry on the brink of collapse?
The evidence supports a conclusion of acute strain: Metinvest says it lost about half its own steelmaking capacity following the loss of its Mariupol plants, and company and plant accounts describe attacks and suspensions affecting remaining facilities in 2026. It does not establish that all Ukrainian steelmaking has ceased, provide a current operating status for every plant, or quantify national output from the cited January figure.
Conditions can change as attacks, repairs, energy supply, and operations change. The available company reports describe events at particular facilities on stated dates; they do not provide a live nationwide status report. Ryzhenkov’s warning is consequential, but the accessible Fortune summary alone cannot establish what measures he believes would avert the threat or the exact outlook he gave in the full interview.
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