We have talked about stainless steel a few times, but it can get confusing so we want to go over it again. There are many different grades of stainless steel, but we are going to talk about the one common kind and the misconceptions about stainless.
304 Stainless is the most common type of stainless steel. It will have no magnetic pull and should not be put into your steel or Light Iron pile.
There is such a thing as magnetic stainless steel. It is made not to rust, but does not have as much Nickel inside of it to make it non-magnetic. Some common magnetic stainless items that you will find: refrigerators, outdoor grills, microwaves.
Find more information about Stainless Steel here: http://staging.iscrapapp.com/metals/stainless-steel/