The article presents an investigation of the influence of material model selection and strain rate accounting on the calculation error during impulse sheet metal drawing simulation. Computer models of electro-hydraulic thin sheet metal drawing processes have been developed in the LS-DYNA finite-element complex. Computer simulation in this study was carried out for 0.24 mm-thick CuZn33 brass sheet blank and 1mm-thick Aluminum 5754 under impulse drawing into a die 60 mm in diameter. Technique of refining of speed hardening coefficient of metal using LS-DYNA complex has been developed. The technique is based on preliminary computer calculations, which allow defining a changes range of elements effective strain rates in different parts of workpiece. The technique is simple to execute and implement. Comparison of methods of the strain rate hardening accounting during usage of different material models of workpiece in computer simulations have been provided. The applicability of material models for high-speed computer simulation of thin sheet metal drawing has been assessed.