Stainless steels are known for corrosion resistance, which is largely due to the steel's chromium concentration. There are several different types of stainless steels. The two main types are austenitic and ferritic, each of which represnets a different atomic arrangement. Due to this difference, ferritic stainless steels are generally magnetic while austenitic stainless steels usually are not. A ferritic stainless steel owes its magnetism to two factors: its high concentration of iron and its fundamental structure.

The most popular stainless steel is Type 304, which contains approximately 18 percent chromium and 8 percent nickel. At room temperature, the thermodynamically stable crystal structure of 304 stainless steel remains stable; nevertheless, the alloy's nickel concentration, as well as the small amounts of manganese (about 1 percent), carbon (less than 0.08 percent) and nitrogen (about 0.06 percent), maintains structure and therefore the alloy is nonmagnetic. If the alloy is mechanically deformed, i.e. bent, at room temperature, it will partially transform to the ferritic phase and will be partly magnetic, or ferromagnetic, as it is more precisely termed.

Fundamentally, the reasons why ferritic stainless steels are ferromagnetic while austenitic stainless steels are not are quantum-mechanical in nature. Suffice it to say a ferromagnetic metal consists of atoms that have an incomplete inner core of electrons and a crystal structure that results in a high density of electron states in the energy bands formed from the incomplete atomic inner core. It also has an atomic spacing that allows for exchange effects among electrons in the energy bands associated with the incomplete inner-core level. If the atoms in the metal crystal are too widely spaced, the exchange effects are too small to cause alignment of the magnetic moments of neighboring atoms and the crystal will not exhibit ferromagnetism. The requirement of a high density of states stems from the Pauli Exclusion Principle. This principle prohibits electrons with the same spin from occupying the same energy level. Consequently, if the density of electron states is relatively small, electrons will need to occupy higher energy states in order for all to have the same spin. If the increase in energy resulting from the occupancy of higher energy levels exceeds the decrease in energy resulting from electron exchange energy, the structure will not be ferromagnetic.

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