The difference between Stainless iron and steel mainly lies in whether containing nickel! Stainless iron usually refers to SUS430 in JAPAN, 1Cr17 in domestic.
The main chemical compositions are: C: < 0.12, Si: < 0.75 Mn < 100, P < 0.035, S < 0.030, Ni: < 0.60, Cr: 16.00-18.00 for ferritic stainless steel.
Stainless iron contains chromium instead of nickel, also becomes Cr stainless steel, so it has certain anti-corrosion ability! Stainless iron is not a saying. The stainless steel is generally thought to be ferromagnetic,but as to me, ferromagnetic mainly refers to the 1Cr17 (ferritic) series and 1Cr13 (martensite) series. Fe isn't ferromagnetic when in austenitic form.
Taking Ni/Cr distinguish easily misunderstood, although they led to the Fe with meat heterogeneous. But for ferromagnetic Fe, Ni, Cr for paramagnetic. High performance magnetic materials 1J series based on Ni .
Stainless steel contains both chromium and nickel. As nickel is a stable element, its corrosion resistance is much better than stainless iron!
As nickel’s price is higher, so from cost, the stainless steel is higher than stainless iron, in addition to the difference in corrosion resistance, prices of stainless steel is higher than stainless iron to the degree about 1/4 ~ 1/3 (for reference only)