Type 304/304L is the modern version of "18-8" stainless steel containing approximately 18% chromium and 8% nickel and is the most commonly specified stainless steel used throughout the world. Type 304/304L is a versatile, general purpose stainless steel with good resistance to atmospheric corrosion, and to many chemicals and food and beverages. These grades can be specified in the annealed condition where they have very good formability. Higher nickel versions can be specified to enhance multi-stage deep drawing characteristics. Higher strength, cold-worked conditions can also be specified for Type 304/304L for spring type applications. Type 304/304L is non-magnetic in the annealed condition but may become slightly magnetic as a result of cold working.