Austenite is a solid solution of carbon in gamma iron. Austenite, also known as gamma-phase iron (Îł -Fe), is a metallic, non-magnetic allotrope of iron or a solid solution of iron, with an alloying element. In plain-carbon steel, austenite exists above the critical eutectoid temperature of 1000 K (727ÂșC); other alloys of steel have different eutectoid temperatures.