AUSTENITIC STEEL ALLOY HAVING EXCELLENT CREEP STRENGTH AND RESISTANCE TO OXIDATION AND CORROSION AT

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An austenitic steel alloy having excellent creep strength and resistance to oxidation and corrosion at elevated use temperatures up to approximately 750° C. has the following chemical composition (in weight %) : 0.02≦C≦0.15%; 0.1≦Si≦2.0%; 25≦Cr≦33%; 22≦Ni≦38%; 1≦Mo≦6%; 0.4≦Nb≦1.5%; B≦0.0120%; 0.01≦N≦0.2%; Mn≦2%; Co≦5%; W≦2%; Al≦0.05%; Cu≦5%; Ti≦0.5%; Ta≦0.5%; V≦0.5%; P≦0.05%; S≦0.05%, Remainder iron with melting related impurities and optional addition of rare earths and reactive elements such as Ce, Hf, La, Re, Sc and/or Y of together 1%.