Nickel prices have been drifting up. Prices on metals will be rising as the surcharges catch up with the 3 month average. The last low point was just before April 2009, which means we are just seeing the surcharges creeping up. If it holds at about $8/lb, the surcharge won't settle out until about mid/late August. See the recent graph. Where does the 8 dollars a pound come from? It seems to be a comfortable number for mines, producers and consumers. The last 5 years shows a steady pattern (excluding the painful spike we just got through that ended about November 2008), if you go back further than 5 years it is more evident.