Actually it depends on the grade of stainless.
For better strength and to be less brittle there needs to be some amount of carbon present in stainless.
Stick a magnet to stainless and there will be some attraction but not usually enough to hold the weight of the item.
Had a buddy of mine gripe about some stainless rusting on his boat. Told him "stainless means it will stain less, not that it won't rust".
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'75 Cuddy with '00 Johnson Ocean Pro 150 horse
Benny
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