Effect of Annealing Temperature on the Microstructure and Mechanical Properties of High-Pressure Torsion-Produced 316LN Stainless Steel

316LN stainless steel is a prospective structural material for the nuclear and medical instruments industries. Severe plastic deformation (SPD) combined with annealing possesses have been used to create materials with excellent mechanical properties. In the present work, a series of ultrafine-grained (UFG) 316LN steels were produced by high-pressure torsion (HPT) and a subsequent annealing process. The effects of annealing temperature on grain recrystallization and precipitation were investigated. Recrystallized UFG 316LN steels can be achieved after annealing at high temperature. The σ phase generates, at grain boundaries, at an annealing temperature range of 750–850 °C. The dislocations induced by recrystallized grain boundaries and strain-induced nanotwins are beneficial for enhancing ductility. Moreover, microcracks are easy to nucleate at the σ phase and the γ-austenite interface, causing unexpected rapid fractures.