A microstructure consisting of ultrafine grained (UFG) ferrite with average grain size of ~ 0.7 µm and dispersed nano-sized carbides was produced by cold-rolling and tempering of the martensite starting microstructure in a low carbon steel. Subsequently, fine grained dual phase (DP) steel consisting of equiaxed ferrite grains with average size of ~ 5 µm and martensite islands with average size ...