There are 3 types of stainless that are used to make kitchen equipment and appliances.
1. Austenitic stainless steel
These grades contain more chromium and nickel. The nickel content makes austenitic grades non-magnetic.
2. Ferritic stainless steel
These contain less chromium and no nickel. Some of your stainless knives, forks, and spoons are also made with this stainless steel. It is magnetic because it has no nickel content. It is less expensive that the the non-magnetic type.
3. Faux stainless steel
These is not stainless steels. They are made of mild steel, chromed and brushed to look like stainless steel. These are the also magnetic and is the least expensive of the three.
4. Monochromatic
Monochromatic means one color. The handles and trim of appliances are usually made of plastic. Sometimes they are chromed and brushed to match the color of the appliance. Therefore, monochromatic stainless steel should be considered a design rather than a type of stainless steel.