Austenitic stainless steel has excellent ductility. Consequently, it has capability for heavily cold deformation, despite its high strength and high work hardening ability. Austenitic stainless steel predominantly contains high levels of chromium and nickel. Additional elements may be added to enhance performance. The target of this study is to melt and cast several austenitic stainless steel alloys with different Nb contents. Furthermore the effects of the chemical composition on strength as well as the effect of cold rolling on the creation of induced martensite phase are also studied. Numerical modeling extensively used to detect the proof strength at high temperatures (up to 600 C). The corrosion behavior of the austenitic stainless steel containing different amounts of niobium was studied. The susceptibility of cold deformed niobium containing stainless steel to localized corrosion in 3.5% NaCl solution was also investigated.