Type 201 is an austenitic chromium-nickel-manganese stainless steel that was developed originally to conserve nickel. It provides properties similar to Type 301 and can be used in most applications for Type 301. This alloy is non-magnetic in the annealed condition, but becomes magnetic when cold worked. The rate of work hardening is similar to Type 301, although Type 201 develops somewhat higher yield strength while retaining equal ductility when cold worked. Toughness at low temperatures is excellent.

Typical uses include appliances, restaurant equipment, cooking utensils, sinks, automotive trim, architectural applications such as windows and doors, railway cars, trailers and hose clamps.