TECHNOLOGY FOCUS - METALLURGY - Preferred Component: The crystal structure is a face-centered cubic (fcc) structure. The powder is in a dispersed state with space present between the individual particles. The individual particles are in a state in which mutual reaction forces suppress bonding between particles, and the entire powder is in a state exhibiting fluidity. The powder of fine alloy particles includes a surfactant that adhered to the surfaces of the individual particles. The alloy particles are dispersed in a dispersant.Preferred Parameter: The x-ray crystallite size (Dx) is less than or equal to 10 nm, and the single crystallinity of (D-TEM)/(Dx) is greater than or equal to 1.50. The average grain size of the alloy particles as found by the dynamic light-scattering method is less than or equal to 50 nm.Preferred Composition: Metal constituents other than T and M comprise not greater than 30 at.% of T+M as an atomic percentage.Preferred Method: The metal salts are reduced with the polyhydric alcohol and/or its derivative in the presence of a nucleating agent. EXAMPLE - Tetraethyleneglycol (200 mL) were added with iron(III) acetylacetonate (1.30 mmol) and platinum (II) acetylacetonate (1.30 mmol) and then the iron(Ill) acetylacetonate and platinum (II) acetylacetonate were dissolved until no solids were present. The solution was transferred to a vessel with a reflux condenser and placed in an oil bath and while nitrogen as an inert gas was blown into the vessel at 400 mL/min. The solution was stirred at 160 rpm and heated, so that reflux was performed for 1 hour at 200 degreesC to terminate the reaction. Methanol was added in an amount 3 times that of the solution after the end of the reaction and it was placed in a centrifuge and the supernatant solution was removed. Methanol (100 mL) was again added to the residue (particle powder) remaining after the supernatant solution was removed. The mixture was placed in an ultrasonic cleaning tank and the process of cleaning by centrifugal separator was repeated an additional two times. A product containing the powder of alloy particles was obtained by separating the supernatant solution was subjected to x-ray diffraction (XRD) and TEM observation. The product containing the powder particles was placed in hexane, oleic acid and oleylamine were added as surfactants and subjected to measurement in the state of the separated liquid obtained by ultrasonic separation. The Dx was 2.2 nm, and each particle had a shape with large surface unevenness having protruding points and indentations between the protruding points. The average grain size as measured under D-TEM was 6.0 microns. The single crystallinity was 2.72, and the average grain size was 13.5 nm according to the dynamic light scattering method.