The deformation and fracture characteristics of a low carbon Si–Mn steel with ferrite/bainite dual–phase structure were investigated by thermo–mechanical controlled process (TMCP). The results showed that the curves of the instantaneous work–hardening factor n* value versus true strain ε are made up with three stages during uniform plastic deformation: n* value is relatively higher at stage I, decreases slowly with ε in stage II, and then decreases quickly with ε in stage III. Compared tothe equiaxed ferrite/bainite dual–phase steel, the quasi–polygonal ferrite/bainite dual–phase steel shows higher tensile strength and n*value in the low strain region. The voids or micro–cracks formed not only at ferrite–bainite interfaces but also within ferrite grains in the necked region, which can improve the property of resistance to crack propagation by reducing local stress concentration of the crack tips.
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