Working offshore on production platforms the last 30 years, it is almost mandatory that you carry a roll of Teflon in your pocket. We use the same tape on piping and fittings for water, oil, natural gas and air with pressures from vacuum to 30,000 psi. It can be black iron, stainless steel, plastic, cast iron, aluminum etc. Only difference noticed is if using quality made USA tape (takes less wraps) or the cheap Chinese stuff (breaks easy).
Some pneumatic panel shops prefer liquid or paste for fittings (mostly SS), they claim it less chance of it getting into fitting.
Sometimes no matter how much tape or paste used the fitting won't seal, then it's time for a new one. Also when screwing SS to SS put extra tape on, turn is slow and don't over tighten, otherwise you will probably gall the threads, when that happens the threads will lock together, destroying the threads, making it almost impossible to unscrew and possibly leak as well.