The Influence of Tempering Temperature on Retained Austenite and Ductility–Toughness of a High-Strength Low-Carbon Alloyed Steel

High-strength alloyed steel has been widely used in engineering equipment because of its exceptional strength and toughness, particularly at low temperatures. However, the performance of high-strength alloy steel has not been fully developed, and it is necessary to further optimize the microstructure and mechanical properties. Therefore, the focus of this study is on the phase transition and corresponding mechanical properties of high-strength low-carbon alloyed steels. Three experimental steels were austenitized at 900 °C for 1 h, followed by water quenching, and were then tempered at 570, 600, and 630 °C. They were denoted as QT570, QIT600, and QIT630, respectively. The results show that appropriate intercritical tempering of QIT600 steel significantly increases the proportion of retained austenite and promotes VC precipitation within tempered martensite in comparison to QT570 and QIT630 steels. The enrichment of multiple alloys improved the thermal stability of retained austenite, which was further demonstrated with low-temperature insulation tests. Meanwhile, QIT600 steel with 18 vol.% of retained austenite achieved a superior yield strength of 1025 MPa, an elongation of 21%, and a cryogenic impact energy of 1.25 MJ/m². The plasticity induced by the transformation of the retained austenite significantly enhanced the strain-hardening rate and postponed necking, thereby increasing elongation. The retained austenite enhanced cryogenic toughness by significantly arresting crack growth and increasing the ability of plastic deformation.