OK- thanks, John. Thats why I said- "I think...." when talking about cracked wheels, because I've never even SEEN an actual Ferrero wheel. The one I tried to repair decades ago was a vintage MOMO and that WAS aluminum, cracked halfway thru one spoke. I welded it OK, but apparently my friend was a slow learner; 2 months later, it cracked again- 1/4" away from the weld, probably from the same usage.
The crack shown above in the Ferrero likely could be welded and refinished since the damaged area is quite far away from the very heat-sensitive leather wrapping. Also appears that there's some sort of brushed surface treatment that resists rust on the magnetic metal.