Marine grade stainless, or SAE 316 stainless steel, is a molybdenum-alloyed steel and is the second most common austenite stainless steel (after grade 304). It is the preferred steel for use in marine environments because of its greater resistance to pitting corrosion than other grades of steel. The fact that it is negligibly responsive to magnetic fields means that it can be used in applications where a non-magnetic metal is required. In addition to molybdenum, 316 also contains a number of other elements in varying concentrations. Like other grades of stainless steel, marine grade stainless steel is a relatively poor conductor of both heat and of electricity.