Most material is dual grade now- meeting both the bulk strength of 316 grade and the low carbon content of 316L grade, i.e. the alloy does not rely on the bulk strength afforded by the carbon content. Where the minimum carbon content comes into play is for creep resistance at high temperatures, as mentioned by other posters. In high temperature services, the chromium depletion due to chrome carbide formation in the 316 and 316H grades is not an issue for corrosion resistance- but it IS an issue if the material is brought down in temperature and exposed to aqueous corrosion conditions. However, at high temperatures, there is little if any benefit in using 316H versus using 304H, so the latter is the more common alloy.