Stainless steel's non-magnetic property is primarily due to the specific elements it contains. Stainless steel is typically composed of a mixture of iron, chromium, nickel, and sometimes other elements. Chromium and nickel, in particular, are the elements responsible for stainless steel's loss of magnetic properties.
A magnet possesses ferromagnetic properties, which allow it to attract magnetic materials like iron and steel. However, elements like chromium and nickel do not exhibit magnetic properties or have very weak magnetic properties. The high content of chromium and nickel in stainless steel transforms it into an alloy that lacks magnetic properties. As a result, stainless steel does not attract magnets or does so very weakly.
In summary, stainless steel does not hold onto magnets because the elements it contains, such as chromium and nickel, are either non-magnetic or possess extremely weak magnetic properties. While this property renders stainless steel unsuitable for magnetic applications, it is highly valuable for its corrosion resistance and stainless qualities.