The invention relates to an austenitic stainless steel with improved pitting corrosion resistance and improved strength. The stainless steel contains in weight % less than 0, % carbon (C), 0,2-0,6% silicon (Si), 1.0-2.0% manganese (Mn), 19.0-21.0% chromium (Cr), 7.5-9.5% nickel (Ni), 0.4-1.4% molybdenum (Mo), less than 1.0% copper (Cu), 0.10-0.25% nitrogen (N), optionally less than 1.0% cobalt (Co), optionally less than 0.006% boron (B), and the rest being iron (Fe) and inevitable impurities.