The formability of dual-phase high-alloy Cr-Ni steel within the temperature range from 900 to 1250°C was studied using laboratory tensile and torsion tests. The dual-phase steels on 24% Cr basis are characterized by poor hot formability due to very low stable deformation values and slow recrystallization. Mathematical description of deformation stability exhaustion was derived, as well as a model of formability control based on analysis of the gradual diffuse deformation stability from the stability limit to the moment when the deformation starts to concentrate in a small volume of the test piece. Rolling simulation of dual-phase steel strip was used as an example demonstrating the draught scheme optimization technique which avoids the danger of crack occurrence during the rolling of dual-phase steel strip.