Dissatisfied with the soft steel pitons used by other climbers, he taught himself blacksmithing and created a spike of chrome nickel steel so strong and light that it fundamentally changed the sport.

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The Treasury plans to make the new coins from nickel-plated steel instead of the alloy, which has become more expensive as the price of copper has risen in recent years.

BBC: Treasury 'should foot coin change bill'

Critical to the stainless steel industry, nickel is seeing strong demand from China and the U.S. MacMillan notes that this demand is in part due to America's shortage of stainless steel scrap.

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The coins are made from steel but plated in nickel, replacing the current cupro-nickel version which contains 75% copper and 25% nickel.

BBC: Coin change 'could cause more skin problems'

Nickel is vital in making stainless steel.

BBC: Steel production

Russia's Norilsk Nickel (otc: NILSY) is the world's biggest producer of nickel, which is what makes stainless steel shiny.

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China's headlong growth has not only caused acute shortages of metals like copper and nickel (which is used, among other things, to make stainless steel and even types of glass).

ECONOMIST: The magnetism of metals

The country is responsible for half the growth in purchases of aluminum, copper and steel and more than 85% of the growth in tin and nickel.

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