Pinch pure metal finally, then reportedly pinch an alloy (6,5)

'alloy' is the definition.
(I know that nickel steel is a type of alloy steel)

'pinch pure metal finally then reportedly' is the wordplay.
'pinch' becomes 'nick' (both can mean to steal).
'finally' suggests the final letters.
'then reportedly' becomes 'steel' (I can't justify this - if you can you should give a lot more credence to this answer).
The final letters of 'pure metal' are 'el'.
'nick'+'el'+'steel'='NICKEL-STEEL'

'pinch an' acts as a link.
This may not be right. Some or all of it may be part of another bit of the clue.

Can you help me to learn more?