At a certain temperature, (usually between 1,500 °F (820 °C) and 1,600 °F (870 °C), depending on carbon content), the base metal of steel undergoes a change in the arrangement of the atoms in its crystal matrix, called allotropy. This allows the small carbon atoms to enter the interstices of the iron crystal, diffusing into the iron matrix. When this happens, the carbon atoms are said to be in solution, or mixed with the iron, forming a single, homogeneous, crystalline phase called austenite. If the steel is cooled slowly, the iron will gradually change into its low temperature allotrope. When this happens the carbon atoms will no longer be soluble with the iron, and will be forced to precipitate out of solution, nucleating into the spaces between the crystals. The steel then becomes heterogeneous, being formed of two phases; the carbon (carbide) phase cementite, and ferrite. This type of heat treatment produces steel that is rather soft and bendable. However, if the steel is cooled quickly the carbon atoms will not have time to precipitate. When rapidly cooled, a diffusionless (martensite) transformation occurs, in which the carbon atoms become trapped in solution. This causes the iron crystals to deform intrinsically when the crystal structure tries to change to its low temperature state, making it very hard and brittle.

What is the name of steel when it is being formed of two phases?