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It is not unusual for “316” stainless steel to be magnetic, especially as a casting. Chromium, nickel, and molybdenum are
the primary alloying elements that determine the structure, mechanical properties, and corrosion resistance of stainless
steel. Stainless steel meeting "316" designation is actually a rolled or forged material but the name is used as
shorthand even for castings. The "equivalent" casting specification of “316” is CF-8M, which is similar but not identical
in composition and properties. Premier uses this very common, corrosion resistant alloy in our cast components. The CF-8M
designation established by the Alloy Casting Institute (ACI) indicates that the grade is corrosion resistant (C),
contains between 18% and 21 % chromium and between 9% and 12% nickel (F), a maximum carbon content of 0.08% (8), and
CF-8M for castings has its chemistry balanced with a certain small percentage of ferrite to enhance hot strength and reduce the possibility of complex cast shapes tearing as they cool in the mold. Depending on the amount of ferrite, stainless castings vary from slightly to substantially magnetic. If you compare the pull of the magnet to something that is fully magnetic, such as 400 series stainless or carbon steel, you'll notice a big difference, since the ferrite amount in our casting is small. Regardless, the salt and chemical resistance of the CF-8M stainless steel casting is not reduced because of the high percentage of chromium and nickel. In fact, a beneficial side effect is that the ferrite in CF-8M is induced by use of higher chromium content than is used in 316 (usually 18-19 percent for CF-8M against 17-17.5 for 316) and this gives the casting grade better resistance to general corrosion as well as to pitting corrosion.
Premier has been a major supplier of cast (and stamped) stainless steel components to the marine industry for many years. In the cast category, we manufacture and warranty cleats, thru-hulls, deck fills, bimini fittings and hinges to name a few.