AISI 416 stainless steel is a martensitic stainless steel known for its excellent machinability due to its sulfur content, which enhances its chip-breaking ability. It contains 12-14% chromium, providing moderate corrosion resistance, and can be heat-treated to achieve high strength and hardness. This grade is magnetic and offers good wear resistance, making it suitable for applications like pumps, valves, and screws. While its sulfur addition improves machinability, it slightly reduces corrosion resistance compared to other stainless steels, limiting its use in highly corrosive environments. AISI 416 is ideal for applications requiring both ease of machining and moderate corrosion resistance.