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Question:

Why stainless steel is not attracted by magnet ?

Although Stainless steel are made maily from ferrite materials why its not magnetic ?

Answer:

magnetic properties arent wholly determined by what material the steel is made of, but more the internal structure of the metal. in short, the metallic microstructure of austenitic stainless steel is not magnetic, mostly because of the addition of nickel in the alloy which modifies the microstructure.
I suspect the stainless steel has an additive which is has a diiferent magnetizing property from iron, which I believe is the main ingredient in stainless steel. If I remember correctly, there is a type of magnetizm called something like para magnetic or something like that. The important fact of this is it actually actually fights magnetizm.
The magnetic properties arise due to way the electrons spin inside the atoms. This in turn is affected by the crystal structure. When iron is alloyed with Nickel and Chromium to make stainless steel, the crystal structure changes, and Iron loses its magnetic properties.

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