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In order to develop a binder forming analysis model based on contact principle of mechanics and to search for an accurate finite element computer code to analyze the model, ABAQUS/Explicit was evaluated using a benchmark example of a step-die. Because the step-die is a quasi-static problem and ABAQUS/Explicit is a dynamic finite element code, we are particularly interested in avoiding oscillations of the blank in the die cavity after the binder is closed. The study reveals that the oscillations can be eliminated and an asymptotic solution obtained if the die close speed is not too high. The optimum die close time for the benchmark is obtained based on the efficiency of computing and accuracy of the solution. The issues of oscillations and asymptotic solutions related to analyzing a quasi-static binder forming problem by a dynamic finite element code are settled in this paper.