Nickel prices are currently hovering around US $30,000 per tonne, according to MEPS. This suggests that alloy surcharges on stainless steel will remain at their current unprecedented high levels for at least two months. For type 304 flat products, surcharges in October will be in excess of EUR 1900 per tonne in Europe and more than US $2500 per short ton in the USA. Alloy surcharges have risen by more than 150% since January. The LME price of nickel has doubled since March, and there is much controversy about the reasons for this.