316 stainless steel has molybdenum added to its alloy content during production. Molybdenum provides an even higher degree of corrosion resistance than 304 stainless steel. This is an advantage for objects that require resistance to extreme environmental conditions such as salt water, de-icing salts, brine solutions, or other chemical forms of chemical exposure. In laboratory and pharmaceutical settings, 316 stainless steel excels in resistance to acids, bromides, and iodides at high temperature.
It is difficult to tell the difference between 304 and 316 stainless steel by simply looking at the two. They both offer the same polished, chromed, grained, colored, or blasted appearance but 316 stainless steel costs more due to its enhanced chemical and production properties.