Type 201 stainless steel is an austenitic chromium-nickel-manganese stainless steel that was developed to conserve nickel. Type 201 is a low-cost alternative to traditional Cr-Ni stainless steels such as 301 and 304. The nickel is replaced by added manganese and nitrogen. It is not hardenable by heat treatment, but can achieve high tensile strengths by cold working. Type 201 is essentially nonmagnetic in the annealed condition and becomes magnetic when cold worked. Type 201 can replace Type 301 in many applications.