It is said that modern SS doesn't have enough iron to be magnetic. Alloying elements in the making of age-hardening stainless steels have a lot of chromium. Reynolds 921 SS, for example -- which is not as hard as 953 (921 is more like the hardness of heat-treated chromoly steel) -- is said to have the chemical composition of “21-6-9,” i.e., 20.32% Chromium, 6.68% Nickel, 9.3% Manganese, 2.6% Carbon, 2.1% Phosphorus, 0.3% Sulfur, 6.7% Silicon, 2.9% Nitrogen