The effect of different austenitizing temperatures on the type, morphology, distribution of carbides and martensite content in cobalt high-speed steel is characterized by scanning electron microscopy, transmission electron microscopy, X-ray diffraction and energy dispersive spectrometry. The results show that the eutectic MC carbides hardly dissolve during austenitizing process, and the lamellar M2C carbides decompose into MC and M6C carbides at 1100 °C. A large amount of M23C6 carbides uniformly distributed on the matrix are dissolved into austenite at 1100 °C. With the increase of austenitizing temperature, alloy element dissolves into matrix and the effect of solid solution strengthening of martensite enhances, which increases the hardness of cobalt high-speed steel. However, when the austenitizing temperature exceeds 1050 °C, the excess alloying elements in the matrix reduce the Ms point and increase the volume fraction of retained austenite, resulting in decrease of hardness of cobalt high-speed steel. The peak hardness with 66.4 HRC appears when the austenitizing temperature reaches 1050 °C.
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