It is demonstrated that the ThermoCalc computer program and database can be used for calculation of phase paraequilibrium provided proper modifications of phase descriptions have been made. This procedure has been used to analyze precipitation of M2C carbides from a "paraequilibrium" two-phase ferrite/cementite mixture in standard and series of modified AF1410 steels. It is found that from the standpoint of achieving fine dispersion of M2C phase and thus improved strength properties, it is beneficial to make a complete substitution of chromium with molybdenum in steels of this class.