Scrap metal prices USA, Gilberts, IL, Illinois. Stainless Steel is a metal that has a higher resistance to corrosion and oxidation than steel. To be considered stainless steel it must contain a minimum of 10.5% chromium. Other elements, such as: nickel, molybdenum and niobium, are often used to change the chemistry of the steel for a particular application. When chromium is added to steel and combined with oxygen; a thin, few atoms thick, invincible layer is formed that protects the steel underneath; this process also gives unique self healing abilities to the metal. The history of stainless steel dates back to the mid 1800’s to early 1900’s. Early on there were different variations of c