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What is the percentage reduction of area in iron and steel industry?

What is the percentage reduction of area in iron and steel industry?
In the tensile test, the maximum reduction of the cross-sectional area at the reduced diameter and the percentage of the original cross-sectional area after the specimen is broken is called the section shrinkage. Expressed in ψ, in%. The formula is as follows: Where: S0 - the original cross-sectional area of the sample, mm2; S1 - the minimum cross-sectional area of the specimen after the breakage, mm2.