301 Stainless Steel is an austenitic chromium-nickel stainless steel that provides high strength and good ductility when cold worked. The chromium and nickel contents are lowered to increase the cold work-hardening rate. This generates higher tensile strengths when cold rolled with a lower loss of ductility than with Types 302 and 304. The grade is essentially non-magnetic when annealed. When cold worked, it becomes slightly more magnetic than other standard austenitic stainless steels. WanJuan Steel is your stainless steel distributor for 301 Stainless Steel.