Definition
Nickel alloy for steelmaking – An alloy of iron and nickel, with nickel making up roughly a fifth to two-fifths of its weight, produced by smelting nickel laterite ore and sold mainly to stainless-steel makers. Its price follows the nickel price, quoted off an index such as the London Metal Exchange, less processing discounts, so a producer's ferronickel revenue and margin move with nickel and with smelting costs such as electricity and fuel rather than with the ore alone. Found In: Revenue and segment notes (product lines), and management commentary on production and sales volumes