Type 316/316L is a chromium nickel austenitic stainless steel containing molybdenum. The molybdenum addition enhances the corrosion resistance over that of 304/304L in halide environments as well as in reducing acids such as sulfuric and phosphoric acid. Type 316L can be dual certified as 316 when the composition meets the lower carbon limit of 316L and the slightly higher strength levels of 316. Type 316L should be specified for welded applications as the low carbon version eliminates chromium carbide precipitation and enhances the corrosion resistance in the as-welded condition.

Type 316/316L resists atmospheric corrosion as well as in moderately oxidizing environments. It also resists corrosion in marine atmospheres and has excellent resistance to intergranular corrosion in the as-welded condition. Type 316/316L has excellent strength and toughness at cryogenic temperatures. Type 316/316L is non-magnetic in the annealed condition but may become slightly magnetic as a result of severe cold working.

Grade 316L, the low carbon version of 316 and has very high immunity from sensitization (grain boundary carbide precipitation). It is extensively used in the oil and gas and chemical industries for its cost effective corrosion resistance and ease of fabrication. There is commonly no appreciable price difference between 316 and 316L stainless steel. The austenitic structure also gives these grades excellent toughness, even down to cryogenic temperatures. Compared to chromiumnickel austenitic stainless steels, 316L stainless steel offers higher creep, stress to rupture and tensile strength at elevated temperatures.