The continuous cooling transformation behavior of the Zr–Ti–RE deoxidized high‐strength low‐alloy steel in the simulated coarse grain heat‐affected zone at different cooling rates (corresponding to different t8/5) is investigated by a Gleeble 3800 thermomechanical simulator in combination with microstructure and mechanical properties analysis. The continuous cooling transformation curve in the simulated heat‐affected zone is plotted, and the transformation law of M/A constituents is systematically investigated. It is found that with the increase of the cooling rate, the dominated microstructure is transformed from pearlite + ferrite into granular bainite and, finally, into lath bainite with the further refinement of M/A constituents. The steel exhibits excellent V‐notch Charpy impact properties at −20 °C under typical heat inputs (20, 100, 500 kJ cm−1). Moreover, acicular ferrite formed on spherical Zr–Ti–RE composite inclusions are observed at the heat input of 100 kJ cm−1. The low‐temperature impact absorbed energy gradually decreases with the increasing heat input due to the coarsening of the microstructure, larger effective grain size, and the reduction in the number of high‐angle variant pairs.
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