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Stainless Steel: All About Food Grade 304, 18/8 and 18/10For example, 18/8 stainless steel is comprised of 18% chromium and 8% nickel. 304 grade stainless steel is also comprised of no more than 0.8% carbon and at least 50% iron. The chromium binds oxygen to the surface of the product to protect the iron from oxidation (rust). Nickel also enhances the corrosion resistance of stainless steel.