Abstract: Disclosed herein is a high strength austenitic stainless steel with excellent corrosion resistance even in oxidative enviroments, and a method for producing such stainless steel, in which the kinds and proportions of the component elements are strictly restricted, especially limiting the contents of C and N to achieve solution strengthening while preventing degradations in corrosion resistance and defects of steel ingots which would be caused if they are added excessively. Besides, V is added under coexistence with Cr and Ni to increase the strength by precipitation of carbides and nitrides of V while preventing production of Cr carbides.

Abstract: A method and apparatus for the controlled cooling of a hot rolled steel rod. A hot rolled steel rod issued from a final stand of mill train is rapidly cooled, and then formed into a coil. The coiled rod is transported in a generally horizontal direction with its loops held at an angle of 30.degree. to 60.degree. relative to the direction of transportation and with a pitch of at least 2d/sin .alpha. where d is a diameter of the rod and .alpha. is the above-mentioned angle. A cooling medium, e.g. air, is forcibly applied to the coiled rod upwardly from below the coiled rod to cool the coiled rod uniformly at such a cooling rate as to achieve a phase transformation to obtain a structure consisting essentially of fine pearlite. The apparatus includes a cooling device for the rapid cooling, a laying head for the coil forming, a conveyor for transporting the coiled rod while supporting its loops at the angle and pitch, a coolant supply, and a mechanism for collecting the treated rod.