Answer
AISI 302 is the standard stainless steel for spiral rings, offering high tensile strength due to its ability to be severely cold-worked. AISI 316 contains $2-3\%$ molybdenum, providing superior resistance to chlorides and pitting, making it essential for marine or chemical processing. However, 316 has approximately $10-15\%$ lower tensile strength than 302 for the same reduction, meaning a 316 ring will have a lower thrust capacity. In subsea applications, the trade-off for corrosion resistance usually justifies the need for a thicker 316 ring or a deeper groove to compensate for the lower shear strength.