Alloy 317L is non-magnetic in the annealed condition. It cannot be hardened by heat treatment, however the material will harden due to cold working. Alloy 317L can be easily welded and processed by standard shop fabrication practices.

| Grade | C | Mn | Si | P | S | Cr | Mo | Ni | Fe |
| SS 317L | 0.035 max | 2 max | 1.00 max | 0.045 max | 0.030 max | 18.00 – 20.00 | 3.00 – 4.00 | 11.00 – 15.00 | 57.89 min |

The higher molybdenum and chromium content of 317L provides excellent corrosion resistance compared to stainless steel grades like 304 or 316, and it resists phosphoric acid, sulfuric acid, and chloride pitting/crevice corrosion.

The low carbon content of this grade of 317 also provides resistance to sensitization during welding, which allows it to maintain its corrosion resistance at grain boundaries and prevent intergranular stress corrosion cracking.
While 317L cannot be hardened by heat treatment, it can be cold worked.
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