A diaphragm  Valve comprising a body having valve seat on a bottom surface of a concave valve chamber, the chamber being in free communication with an inflow passage and an outflow passage, a metal diaphragm disposed in the valve chamber and facing the valve seat, the metal diaphragm cooperating with said body to maintain air-tightness of the Valve chamber, said diaphragm being an elastically deformable body movable toward or away from the valve seat, a bonnet secured to the body for holding an outer circumferential portion of the diaphragm against the body, and a stem extending through and slidably supported by the bonnet for elastically deforming the diaphragm, wherein said diaphragm comprises a thin alloy sheet containing 12.5-14.5% Mo, 20.0-22.5% Cr, 2.0-6.0% Fe, 2.5-3.5% W, 2.5% or less Co, 0.015% or less C, 0.08% or less Si, 0.50% or less Mn, 0.35% or less V, 0.02% or less P, 0.02% or less S and the remainder Ni by weight, the said thin alloy sheet being cold-rolled after annealing.

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