The austenitic stainless steel 316 has a chromium content of 16–18%, a nickel content of 10–14%, a molybdenum content of 2–3%, and only trace amounts of silicon, carbon, and other elements. The corrosion resistance of the alloy is enhanced by the addition of molybdenum, particularly in settings with chlorides.

Applications that call for exceptional corrosion resistance, like maritime and chemical processing equipment as well as medical and pharmaceutical equipment, frequently use stainless steel 316 coils. They are also employed in the production of heat exchangers, architectural components, and machinery for food processing.