According to Meps prices for stainless cold rolled coils have moved strongly upwards this year and the transaction prices have increased in all the major markets. Since December last year, transaction prices for grade 304 cold rolled coils have risen by 17% in Japan, by 29% in USA and by no less than 42% in Germany. The latest prices for type 304 cold rolled in the USA, Japan and Germany now all stand at the highest levels that Meps has ever recorded since they began publishing Stainless Steel Review in 1997. Meps said that while basis prices have gone up, a large part of the increase being paid by stainless buyers is attributable to higher costs for alloys and other raw material inputs. Alloy surcharges for type 304 in July will be around EUR 1300 per tonne in Europe and about USD 1700 per short ton in North America. These are increases of 64% and 78% respectively since January. The surge in the price of nickel to almost unprecedented levels in the last few months is largely responsible for these rises.