【SMM Steel】Energy crisis, CBAM force ArcelorMittal Kryvyi Rih to halt LMZ plant

Published: Mar 4, 2026 17:40

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【SMM Steel】ArcelorMittal Kryvyi Rih will halt its Foundry and Mechanical Plant (LMZ) in three months, cutting over 1,700 jobs. Total cuts exceed 2,400 with the blooming shop also closing. Soaring power costs from infrastructure attacks and expensive imports made steel production unviable. EU's CBAM, effective 2026 with no Ukraine exemption, blocked European market access, drying up LMZ orders.

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