304 Stainless Steel is the most widely used of the austenitic (chromium/nickel) stainless steels. In the annealed condition it is essentially non-magnetic and becomes slightly magnetic with the application of cold work. Type 304L Stainless Steel is preferred in welding applications to exclude the formation of chromium carbides during cooling in the heat affected region of the weld. These alloys represent an excellent combination of corrosion resistance and fabricability.