Stainless steel 316 has higher nickel content than Grade 304, so it is generally more expensive. It contains 2-3% molybdenum. The addition of molybdenum provides pitting resistance in phosphoric acid, acetic acid and dilute chloride solutions and provides corrosion resistance in sulfurous acid. You can find this type of stainless steel from the medical industry, or in the high temperature aviation industry because of its durability and resistance to heat. AISI 316: 16% Chromium 10% Nickel