Type 416 is a high-chromium, martensitic, free-machining stainless steel known for its excellent machinability, moderate corrosion resistance, and ability to be hardened through heat treatment. It is commonly used in parts requiring significant machining, such as golf club heads, axles, and gears. While it provides reasonable strength and resists mild corrosive environments, it is not recommended for high-pressure applications. The higher sulfur content enhances machinability but slightly reduces corrosion resistance. The material remains magnetic in all conditions and can achieve high surface hardness through nitriding.