this is from a link - should give you the answer.
The chemical and food industries alleviate these problems by adding a dash of Molybdenum (Mo). Thus 316 stainless (or A4) typically comprises 17% Cr, 11% Ni, 2 % Mo and is widely used to store and transport some very aggressive substances. So, you might think that this is the perfect stuff to use as a fastener in or through wood, and from the sole perspective of chemical attack you’d be right. But we need to reconsider the environment in which the fastener is doing its job. Imagine a bolt, nail or screw fastening a plank to a frame underwater. The head, at or near the surface, will be oxygenated enough to maintain its passive film. The shank, buried deep in the structure, is likely to be starved of oxygen but will be surrounded by various acids and chlorides. In these circumstances, the passive film may break such that the stainless becomes ‘active’. This has two effects: firstly, look back at the galvanic series and you’ll see that the difference between active and passive electropotentials in 304, and to a lesser extent in 316, is enough to cause galvanic corrosion. Like brass, stainless can form its own galvanic couple. Secondly, without the oxide layer, the stainless will corrode about as fast as steel. The upshot is that stainless fasteners below the water-line - irrespective of the grade - may be no better than mild steel. Above the water-line (more oxygen and less electrolyte) such fastenings are fine, but unless you value the extra lustre of 316, there’s little point in paying for it."