Egyptian mills have finally reacted to the global shifts in the steel market by an increase in their domestic prices, particularly for rebar. According to sources, the local official offers from four Egyptian producers increased by around $145/mt (EGP 3,000/mt) early this month. The main reason is said to be the increased cost of production, triggered by the disturbance in the global market caused by Russia's invasion of Ukraine. Currently, local producers Ezz Steel, Egyptian Steel, Suez Steel and El Marakby Steel are offering rebar for the local market at $958-1,007/mt (EGP 19,900-21,000/mt) ex-works, SteelOrbis has learned. The significant price increase is explained by local sources as being due to the hike in the global prices for scrap, iron ore and billet, on the imports of which Egyptian mills depend. Egypt has depended on imports from Russia and Ukraine, whose supplies have all but stopped due to the ongoing war.