Stainless Steel Rod Type 316 ASTM-A276 A slightly higher nickel and molybdenum content produces superior corrosion resistance. Welding characteristics are very good. Widely used in marine environments and in applications that requires exposure to acetic acid compounds, and other chemical corrodents. Stainless Steels are alloys of iron and carbon that contain between 12 percent and 30 percent Cr, plus other alloying elements. The chromium, which helps develop a passive surface oxide film, provides corrosion resistance in stainless steels. Stainless Steels are wrought or cast and consist of several families that are named for their metallurgical structure. Stainless Steels are fabricated and welded by all common processes and are used for their corrosion resistance, high-temperature strength, scaling resistance, and low-temperature toughness. Density is .29 lbs./in3. Formability is good, and cold working results in increased strength. This alloy is non-magnetic in the annealed condition, although it may become slightly magnetic after cold working. It can be hardened only by cold working, and not by heat treatment.