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Automotive technologies such as fuel injection, anti-lock braking systems and automatically adjusting suspension systems have created a need for soft magnetic alloys having good corrosion resistance and fabrication characteristics, but with higher saturation flux density (Bs) and more consistent magnetic performance than ferritic stainless steels. This paper will describe the development of a family of controlled chemistry Chrome Core™ * alloys specifically designed for use in magnetic components where corrosion resistance substantially superior to that of pure iron, low carbon steel and silicon-iron alloys is required without the substantial decrease in saturation flux density and inconsistent magnetic response associated with conventional ferritic stainless steel.