Even though there are many papers in spring-back of sheet metal forming in quasi static and high strain rate process, still I couldn't figure out how to understand this phenomena in LSDYNA software.
We used a modified Johnson-Cook model in an LS-Dyna simulation, it captures pretty well on the elastic strain recovery/ spring back effect during ring expansion. It is significantly evidenced during the low deformation case. A work presented in 7th International Conference on High Speed Forming (ICHSF 2016), have more detail of the simulation and experimental work available from the following link; Conference Paper Development of Vibration During the Electromagnetic Ring Exp...
you can also see a simulation video of ring expansion test (obtained using LS-Dyna), showing the elastic spring back, available in the following link,