Stainless shouldn't rust like that ... that's why its called "stainless". My guess is its chromed steel. Check with a magnet, stainless isn't magnetic.

If its chrome then you want to avoid hitting the surface that shows with steel wool - use a good metal polish.

Is stainless steel non-magnetic?

It is commonly stated that “stainless steel is non-magnetic”. This is not strictly true and the real situation is rather more complicated. The degree of magnetic response or magnetic permeability is derived from the microstructure of the steel. A totally non-magnetic material has a relative magnetic permeability of 1. Austenitic structures are totally non-magnetic and so a 100% austenitic stainless steel would have a permeability of 1. In practice this is not achieved. There is always a small amount of ferrite and/or martensite in the steel and so permeability values are always above 1. Typical values for standard austenitic stainless steels can be in the order of 1.05 – 1.1. See Composition effects on the magnetic permeability of austenitic stainless steels

It is possible for the magnetic permeability of austenitic steels to be changed during processing. For example, cold work and welding are liable to increase the amount of martensite and ferrite respectively in the steel. A familiar example is in a stainless steel sink where the flat drainer has little magnetic response whereas the pressed bowl has a higher response due to the formation of martensite particularly in the corners.

In practical terms, austenitic stainless steels are used for “non-magnetic” applications, for example magnetic resonance imaging (MRI). In these cases, it is often necessary to agree a maximum magnetic permeability between customer and supplier. It can be as low as 1.004.

Martensitic, ferritic, duplex and precipitation hardening steels are magnetic.

Stainless can be magnetic. The stainless front window moldings on muscle years A/B/C body's are magnetic and all stainless. Due to metal composition and/or the working/forming of it.