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Yes it is corrosive and decent shooting ammo if expectations are not beyond milsurp issue ammo. These days any reliable safe milsurp seems to sell around 50cents/rd.
 

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Just be sure there is not any OLD WW2 German steel case mixed in with that 1960 E German 8mm.
That 1940s stuff can be rusty inside and suffer case head failures when shot.
I was shooting that same 1960 stuff in my Hakim and a 1944 mfg round was in one box...I didn’t notice, and on firing the case head blew and ruined my stock and magazine.
 
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