What does the cryptic crossword clue "Pinch pure metal finally, then reportedly pinch an alloy (6,5)" mean?

The wordplay uses a homophone (sounds like). NICK + [pur]E [meta]L + sounds like STEAL. The answer is NICKEL STEEL.

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

Times Cryptic #28591 | 12 Down | 2023-05-01 flower