316 Stainless Steel Scrap 316 Stainless Steel Scrap shall consist of sorted AISI type 316 stainless steel solids and shall have a chemical composition of 0.08% Carbon, 16-18% Chromium, 2-3% Molybdenum, 2% Manganese, 10-14% Nickel, 0.045 Phosphorous 0.030% Sulfur, 1.0% Silicon and the balance Iron.