Low carbon and low alloy steels require good combination of strength and ductility to ensure safety and stability of structures. Heat treatment in intercritical area can not only produce multi-phase microstructure,but also lead to the redistribution of alloying elements in different phases. Multi-step intercritical heat treatment is favorable to obtain retained austenite that is stabilized by repeated enrichment of alloying elements in reversed austenite and nanometer-sized precipitate that are primarily formed during tempering. Excellent mechanical properties are contributed by transformation-induced-plasticity effect of retained austenite and precipitation hardening effect of nanometer-size precipitates. In this work, the microstructural evolution and relative mechanical properties were investigated in a low carbon low alloy steel processed by a three-step heat treatment, namely, intercritical annealing, intercritical tempering and tempering. The microstructure was a typical dual- phase microstructure consisting of intercritical ferrite and bainite/martensite after intercritical annealing, and primarily comprised of intercritical ferrite, tempered bainite/martensite and retained austenite after intercritical tempering. Retained austenite with volume fraction of 29% distributed at the ferrite/bainite(martensite) boundaries and betweent bainitic/martensitic laths. Retained austenite was stabilized by enrichment of C, Mn, Ni and Cu in reversed austenite during the reversion transformation process. Nb C precipitates with average size of 10 nm was formed in ferrite matrix and bainite/martensite, while Cu- containing particles in size range of 10~30 nm precipitated in ferrite and retained austenite during intercritical tempering and tempering process. The morphology of Nb C precipitates was spherical, elliptical and irregular, and copper precipitates were spherical. With the combination of transformation- induced- plasticity(TRIP) effect of retained austenite and precipitation hardening, the steel possessed outstanding mechanical properties: yield strength 700 MPa, tensile strength 900 MPa, uniform elongation 20%, and total elongation 30%.
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