Ferritic stainless steels have moderate workability and corrosion resistance in spite of the fact that they are relatively inexpensive when compared with austenitic stainless steels, and in consequence, relatively large quantities of ferritic stainless steels are commercially used in the manufacture of durable consumer goods, including kitchen units, and as construction materials. On the other hand, low chromium ferritic stainless steels, including those in accordance with AISI 409 and SUS 410L, are used in large quantities in the manufacture of automobile exhaust gas systems, because of their superior strength and oxidation resistance at an elevated temperature as well as corrosion resistance to low carbon steels. However, commercially available ferritic stainless steels, including those of low chromium, are still very expensive when compared with low carbon steels. Accordingly, it is strongly desired to develop more inexpensive ferritic stainless steels.