316 is the standard molybdenum-bearing grade, second in importance to 304 amongst the austenitic stainless steels. The molybdenum gives 316 better overall corrosion resistant properties than 304, particularly higher resistance to pitting and crevice corrosion in chloride environments.

It has excellent forming and welding characteristics. It is readily brake or roll formed into a variety of parts for applications in the industrial, architectural, and transportation fields. 316 also has outstanding welding characteristics. Post-weld annealing is not required when welding thin sections.