The reason for using stainless steel is that it differs from carbon steel by the amount of chromium present and reduces the spalling. Unprotected carbon steel rusts readily when exposed to air and moisture. This iron oxide film (the rust) is active and accelerates corrosion by forming more iron oxide, and due to the greater volume of the iron oxide this tends to flake and fall away (spall).
Stainless steels contain sufficient chromium to form a passive film of chromium oxide, which prevents further surface corrosion by blocking oxygen diffusion to the steel surface and blocks corrosion from spreading into the metal's internal structure, and due to the similar size of the steel and oxide ions they bond very strongly and remain attached to the surface.
There are a number of grades of stainless steel. Some of the ones that perform better in hot conditions are:
300 Series—austenitic chromium-nickel alloys. Austenitic steels have a cubic crystal structure. Austenite steels make up over 70% of total stainless steel production. They contain a maximum of 0.15% carbon, a minimum of 16% chromium and sufficient nickel and/or manganese to retain an austenitic structure at all temperatures from the extremely cold to the melting point of the alloy.
Type 304—the most common grade; the classic 18/8 (18% chromium, 8% nickel) stainless steel. Outside of the US it is commonly known as "A2 stainless steel", in accordance with ISO 3506 (not to be confused with A2 tool steel).
Type 304L—same as the 304 grade but lower carbon content to increase weldability. Is slightly weaker than 304.
Type 304LN—same as 304L, but also nitrogen is added to obtain a much higher yield and tensile strength than 304L.
Type 309—better temperature resistance than 304, also sometimes used as filler metal when welding dissimilar steels, along with inconel.
Type 316—the second most common grade (after 304); for food and surgical uses; alloy addition of molybdenum prevents specific forms of corrosion. It is also known as marine grade stainless steel due to its increased resistance to chloride corrosion compared to type 304.
Type 316L—is an extra low carbon grade of 316, generally used in stainless steel watches and marine applications, as well exclusively in the fabrication of reactor pressure vessels for boiling water reactors, due to its high resistance to corrosion. Also referred to as "A4" in accordance with ISO 3506.
Type 316Ti—variant of type 316 that includes titanium for heat resistance. It is used in flexible chimney liners.
Type 321—similar to 304 but lower risk of weld decay due to addition of titanium.
400 Series—ferritic and martensitic chromium alloys
Type 439—ferritic grade, used for catalytic converter exhaust sections. Increased chromium for improved high temperature corrosion/oxidation resistance.
Type 446—For elevated temperature service
500 Series—heat-resisting chromium alloys
Based on Wikipedia