We use 1040 steel for rubber transfer molding process. Mold is heated up to 180 celcius. In what ways can it effect 1040? As I know hot work steels are compatible with this process. Do you have any suggestions for mold steel?
180C shouldn't affect the 1040 much. Carbon steels are not very corrosion resistant, though. If you were to use a nitrided surface (gas or salt bath nitriding), then both the surface hardness and resistance to corrosion would be enhanced. A bake-on mold release might also help.
The coefficient of thermal expansion depends a bit on temperature. It is around 6e-6 in/in/F when heating from 70F to 200F, and around 6.5e-6 in/in/F, when heated from 70F to 302F (150C) and 6.8E-6 for 70F to 356F (150C), so design your mold clearances and hot dimensions accordingly.