Experimental and finite element analysis on oscillating cold forming in consideration of nonlinear loading-unloading-reloading behavior

•Effects of loading-unloading-reloading behavior in oscillating forming were analyzed by experiments and simulations.•Novel multi-surface nonlinear elasticity model combined with strain-rate dependent hardening was applied to the simulations.•The prediction for product geometry was improved by the advanced modeling.•Mechanism of force reduction and material flow in oscillating forming could be analyzed by the FE simulations.