Thermodynamic equilibrium of Fe-36Ni-base Invar alloy containing C contents from 0.25 to 0.38 weight per cent during solidification has been investigated in this study. From the thermodynamic simulation using ThermoCalc®, it has been revealed that equilibrium phases which can be formed are two kinds of MC-type precipitates, i.e. (Nb, Mo, V)C and MoC, and M2C carbides. The MoC carbide was expected to be formed at relatively lower temperature below 770oC. Microstructure observation revealed the coarse precipitates in the as-cast ingots, which was Mo-rich non-equilibrium phase and could be resolved by the successive heat treatment. With increasing C contents from 0.25 to 0.38 wt.%, tensile strength of Invar alloy increased from 950 to 1100MPa after hot rolling and thermal expansion coefficient showed a trivial increase. Hot-rolled Invar alloy was successfully drawn at room temperature from 6 to 4 mm in diameter, which dramatically decreased thermal expansion coefficient.
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