316 Series Stainless Steel contains molybdenum, which significantly increases corrosion resistance, strength and of course the cost.
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Machine Screws -- 316 stainless steel Oval Head Phillips Drive Type 316 Stainless Steel Machine Screws are awesome for the marine environment and will provide the Best corrosion protection that you can get. This is what everyone should be using in harsh environments. There are also a million exterior uses where a stainless fastener will come in handy.