Stainless steel is a remarkable material for chainrings. This is why Tumbleweed Bicycle Co, the makers of award-winning touring bikes, made its first-ever chainring out of the material. It’s designed for Shimano direct mount cranksets except for 12-speed Shimano HG+ chains. Tumbleweed chose this platform because the crank design is great for touring since preload is easily adjustable, and you can remove the cranks with just an Allen wrench and a small plastic preload cap tool, and the 24mm steel spindle is strong and stiff.
The Tumbleweed Wagon Wheel Chainring is available in both stainless ($110) or black alloy ($85) and in 32t sizing only right now.
Check out more at Tumbleweed Bicycle Co.