301 stainless steel is a modification of stainless steel grade 304 with lower chromium and nickel to increase the work hardening range. Type 301 steel exhibits corrosion resistance comparable to type 302 and 304. In the cold worked and annealed condition, type 301 achieves its most optimal resistance to corrosion.

Type 301 is a chromium nickel austenitic stainless steel capable of attaining high strengths and ductility by cold working. It is not hardenable by heat treatment. Type 301 is non-magnetic in the annealed condition and becomes increasingly magnetic with cold working. This chromium nickel stainless steel alloy provides high strength and good ductility when cold worked. 301 stainless steel is a modification of stainless steel grade 304 with lower chromium and nickel to increase the work hardening range. Type 301 steel exhibits corrosion resistance comparable to type 302 and 304. In the cold worked and annealed condition, type 301 achieves its most optimal resistance to corrosion. It is preferable over types 302 and 304 in the tempered condition because the higher enlongations (which are attainable at a given strength level) facilitate fabrication.