Stainless steel is an iron alloy, which means that iron is combined with other materials to form a new metal. This means that different combinations can have different properties, and be used for different things. Stainless steel can be magnetic in some cases, when these materials are combined in different ways. One of the most common types of stainless steel is called “ferritic” stainless steel, and it is magnetic, while other common types of stainless steel are not.