Grade 201 stainless steel offers a cost-effective alternative to traditional chromium-nickel austenitic stainless steels, such as Grade 304. [1] The 200 series, particularly Grades 201 and 201L, is known for its high production volume. Grade 201L is a low-carbon variant of Grade 201, offering improved intergranular corrosion resistance. It also helps prevent the precipitation of chromium carbides and mitigates the risks of intergranular corrosion. When properly annealed, Grade 201L becomes fully austenitic, with a magnetic permeability of less than 1.02. [2]

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Source:
[1] https://www.aalco.co.uk/datasheets/Stainless-Steel-201201L202204_97.ashx
[2] https://www.azom.com/article.aspx?ArticleID=8214