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Reports that sagging demand in North America and Europe has led to fierce price-cutting of stainless steel, a metal prized for its resistance to corrosion, its bright appearance, and its easily cleaned surfaces. Market for stainless steel that is weak in North America; Comments from Joseph Gibbons, chief executive of Great Plains Stainless Inc.; Price of nickel, one of its main ingredients, that is surging; Question of how long the prices of the two materials can keep moving in opposite directions; Details of the nickel's market.