Alloy 347 is a stabilized, austenitic, chromium steel containing columbium which allows for the elimination of carbide precipitation. Alloy 347 is stabilized by the additions of chromium and tantalum and offers higher creep and stress rupture properties than alloy 304 and 304L which may also be used for exposures where sensitization and corrosion are of concern. The addition of columbium also allows Alloy 347 to have excellent corrosion resistance, even superior to that of alloy 321.