Partial amount of austenite can be dynamically transformed into ferrite above the Ae3 temperature when it is being deformed. This happens by a displacive mechanism. On removal of the load, it retransforms back into the stable austenite by diffusional processes. Plate rolling simulation under continuous cooling conditions was carried out on a high Nb X70 steel. Pass strains of 0.2 together with interpass times of 10, 20 and 30 s were employed. The initial and final temperatures for the finishing simulation were 920 and 830 °C, respectively. The mean flow stresses (MFS`s) behaviour indicates that dynamic transformation (DT) and recrystallization (DRX) were taking place during straining. It is shown that ferrite is formed during the roughing passes and increases its volume fraction throughout the finishing rolling steps. The ferrite formation is favoured by strain accumulation, shorter time between passes and also when the temperature reaches the Ae3 line. The results obtained here can be used to design improved models for transformation on accelerated cooling.