Stainless steel is any group of ferrous alloys that would contain at least 11% chromium, a composition that hugely inhibits the present iron from rusting and also provides heat-resistant properties. Many types of stainless steel are present in the market, but the most popular ones are SS 316 and SS 410. SS 316 is austenitic stainless steel developed to provide enhanced corrosion resistance to alloy in a moderately corrosive environment.  SS 316 chemical composition includes carbon, magnesium, iron, nitrogen, sulfur, phosphorus, silicon, chromium, nickel, and molybdenum. SS 410 is a heat treatable martensitic chromium stainless steel. It gives the best combination of corrosion resistance and wears resistance, and it is also used for demanding medical equipment. SS 410 chemical composition includes chromium, phosphorus, nickel, sulfur, carbon, silicon, manganese, and iron.

Having good quality stainless steel brings up many uses with it. Some common uses of SS 316 involve the construction of furnaces parts, engine parts, pharmaceutical equipment, photography equipment, chemical processing equipment, pump parts, tanks, heat exchangers, evaporators, etc.
Application of SS 410 is in surgical and dental equipment, automotive parts, pipelines, valves, turbine blades, press plates, etc.  
Corrosion Resistance

Chromium content is a valuable stat to know the corrosion resistance of any alloy steel. The chromium content in SS 316 is about 16-18%, whereas the same in SS 410 is almost 11-13%. By this stat, it's visible that the chromium content is more in SS 316 than in SS 410, so SS 316 would have better corrosion resistance in the corrosive scenarios.
Tensile Strength

Tensile strength refers to the total amount of stress a material can withstand while being tortured but before breaking. The tensile strength of SS 316 is around 520-1180, and the strength of SS 410 is 520-770 SS 316 is more capable of handling more stress than that SS 410.

SS 316 would cost around 6 dollars per kg, and SS 410 cost around 5 dollars per kg. Because of the molybdenum present in SS 316, its cost is more than that. However, there might be some variable costs in different countries and areas. But, surely, the price of SS 316 will always be more than that of SS 410 because of the presence of molybdenum. 
Both kinds of steel, SS 316 and SS 410, are easily available in the markets at the costs mentioned above. Both are quite useful in various equipment involving various fields and procedures. Having good quality steel would be the best overall option, so opting for stainless steel can be done with closed eyes. Getting the best things for producing a satisfactory and best result is what everybody wants. 
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Author's Bio: 

A postgraduate in Fashion Technology. Shalini is a writer at heart! Writing for her is an expression of her true self. After a short stint as a textile expert, she decided taking up writing full time. Shalini compiles content on myriad topics. A mother to a tiny tot, she uses her personal website and blog to explain the subtle yet perplexing aspects of parenting and motherhood. When she's not writing, she is either pursing her passion of exploring the latest tech innovations or crooning to her favorite music. Find out what she has to say about the trivial things we call "LIFE".