The present invention inexpensively provides a steel material having greater corrosion resistance than electromagnetic stainless steel and also having excellent magnetic properties. The steel material comprises, in % by mass, 0.001%-0.025% C, 1.0%-4.0% Si, 0.1%-1.0% Mn, more than 0% but no more than 0.030% P, more than 0% but no more than 0.10% S, more than 0% but less than 4.0% Cr, more than 0% but no more than 0.010% Al, and more than 0% but no more than 0.01% N, with the remainder being iron and unavoidable impurities; and is characterized by having an oxide coating formed on the steel surface material, said oxide coating including either Si or Cr, or both, including a non-crystalline layer, and having a thickness of 50-500 nm.