N

Net Operating Loss (NOLs)
An income-averaging provision that allows companies with losses to either carry forward the loss up to 15 years to offset otherwise taxable future income, or carry back the NOLs up to three years to receive a refund for taxes previously paid (see FAS 109).

Nickel (Ni)
An alloying element used as a raw material for certain classes of stainless steel. Nickel provides high degrees of ductility (ability to change shape without fracture) as well as resistance to corrosion. Approximately 65% of all nickel is used in the making of stainless steel.

No. 1 Heavy Melt
Obsolete steel scrap grade, at least one-quarter inch in thickness and in sections no larger than five feet by two feet. Much of the metal comes from demolished buildings, truck frames and heavy duty springs. Mini-mills are primary consumers of No. 1 heavy scrap.