I can only talk facts about the meteoritic material I myself have handled.
I welded small pieces of Arizona material together, then folded and welded at least seven times, but probably more likely nine or ten times, to make small, solid, clean billets of material that was 100% meteoritic material.
The small solid block of meteoritic material was then forged out to the point where it was starting to separate, which means it was about as thick as a piece of newspaper.
A piece was cut off and put between two pieces of iron about half inch thick.
Four of these pieces were made, then these four pieces welded together, forged out and folded five times to produce 128 nominal layers of the meteoritic material. However, don`t forget that this meteoritic material had---let us say---nine folds in it before it started to be worked as pamor, and there were four layers of it before the first pamor fold was done. That means the meteoritic material itself finished up as 1152 nominal layers.
At this level of layering, the nickelous parts of the original meteoritic material would have lost a lot of the ferric component. It was thin to begin with, and with every weld heat some ferric component would have been lost. If you look at the finished pamor under magnification it is difficult to see if the bright nickelous parts of this pamor have any joints at all.
From an academic point of view I have absolutely no idea what happens with the meteoritic material. From a practical point of view what I can see is an effect that looks very similar to plain, straight nickel.
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