[Ukraine's metals industry contribution to GDP falls close to zero as Zaporizhstal chain breaks]

Published: Sep 16, 2026 17:30

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Before Russia's full-scale invasion, the metals industry accounted for up to 7% of Ukraine's GDP; Metinvest Chief Operating Officer Oleksandr Myronenko told Forbes Ukraine the sector's contribution may now be close to zero. Of the group's Ukrainian mining assets, only the Central and Northern mining and processing plants still run, at about 50% of capacity, producing iron ore pellets and concentrate for export to the EU. The Southern plant is idle because seaports are effectively closed, and Inhulets has been shut since 2024 on high electricity prices. At Zaporizhstal, Russian strikes have broken the production chain; restoring damaged equipment would cost tens of millions of hryvnias, roughly 0.5-2 million USD. GMK Center estimates mining and metals fell from 10.3% of GDP in 2021 to 5.5% in 2025, after making up 15.2% of goods exports last year, worth 6.2 billion USD. Zaporizhstal halted fully after an 11 August ballistic missile strike; Ukraine's steel output halved in August and four more missiles hit the plant in September, causing critical damage.

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