Selected IMPHOS (IMproving PHOSphorus refining) heats ([1], [2]: Millman et al. in Proc. Scanmet 3, 2008; and Millman et al. in Ironmak Steelmak 38:499, 2011), have been used to make observations on decarburizing and dephosphorising performance characteristics during BOS refining. If it is assumed that decarburization takes place solely in the slag/metal emulsion then maximum metal residence time in the emulsion is just under 9 sec and at peak decarburisation time, the maximum amount of metal in the emulsion is ∼ 50 % of the total metal content in the converter. To evaluate the effects of changes in slag component chemistry on phosphorus refining it is necessary to account for changes in slag weight, which can change substantially throughout a heat and be significantly different heat-to-heat. Dephosphorising performance depends on the thermodynamic stability of slag phases that are able to take-up phosphorus and the distribution of phosphorus between these thermodynamically stable phases. The application of proprietary thermodynamic models such as MTDATA and FACTSage has helped to clarify such events. The stability of the foamy slag/metal emulsion changes over the period of the blow. Slag height increases with an increase in FeO (tot) wt% and decreases with a decrease in decarburisation rate and the collapse of the foamy slag. © 2013 Indian Institute of Metals.