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No. It is high carbon 01 steel. Left with water standing on it oxidation starts pretty quick. The water may have something to do with it too. Well water or city water ? Either may have 'stuff' in it...

IIRC it is 01 and that steel is sensitive to moisture in the air and what not. IME.

Welcome to SRP. If the oxidation wasn't on the spine before the shave I suspect there was moisture present after drying. Even with oil moisture can get between it and the metal. Looks like it is more...