For the best processability: Soft annealing
Soft annealing is a thermal process which is used to make materials more easy to shape and to reduce their hardness. In this process, the material is annealed at a temperature only slightly below its transformation point and subsequently cooled down slowly. Throughout the process of soft annealing, the cementite in the microstructure of the material, which is lamellar at first, is transformed into granular cementite. This is easier to shape and stretch meaning it can be processed more easily.
Soft annealing is especially well suited for types of steel with a high levels of carbon content and high-alloyed steel.