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A short, intensive but very precise on-line cooling of the rolled bars is imparted in the Thermex process through a proprietary. On further cooling of the bars in atmosphere, a thermal exchange (THERMEX) occurs between the core and cooled outside surface whereby the resultant bars structure is a distinct tempered, martensite at periphery and a fine grained ferritepearlite structure in the central zone. The Thermex bars produced by the above quenching and self tempering process (QST) has unique qualities of desired high strength and toughness combined with excellent ductility with bars having elongation values of 18 to 25%