Grade 316 is the standard molybdenum-bearing grade, second in importance to 304 amongst the austenitic stainless steels. The molybdenum gives 316 better overall corrosion resistant properties than Grade 304, particularly higher resistance to pitting and crevice corrosion in chloride environments. It has excellent forming and welding characteristics. It is readily brake or roll formed into a variety of parts for applications in the industrial, architectural, and transportation fields. Grade 316 also has outstanding welding characteristics. Post-weld annealing is not required when welding thin sections.

Grade 316L, the low carbon version of 316 and is immune from sensitisation (grain boundary carbide precipitation). Thus it is extensively used in heavy gauge welded components (over about 6mm). Grade 316H, with its higher carbon content has application at elevated temperatures, as does stabilised grade 316Ti.

The austenitic structure also gives these grades excellent toughness, even down to cryogenic temperatures.

Note: These comparisons are approximate only. The list is intended as a comparison of functionally similar materials not as a schedule of contractual equivalents. If exact equivalents are needed original specifications must be consulted.

Excellent in a range of atmospheric environments and many corrosive media - generally more resistant than 304. Subject to pitting and crevice corrosion in warm chloride environments, and to stress corrosion cracking above about 60⁰C. Considered resistant to potable water with up to about 1000mg/L chlorides at ambient temperatures, reducing to about 500mg/L at 60⁰C.

316 is usually regarded as the standard “marine grade stainless steel", but it is not resistant to warm sea water. In many marine environments 316 does exhibit surface corrosion, usually visible as brown staining. This is particularly associated with crevices and rough surface finish.