Devices for measurement of flatness in rolling mills is important to ensure high quality products and fewer strip breaks. One of these devices take the form of a measuring roll, which the strip is guided over after it has exited the reduction stage in the mill. The roll is traditionally used in cold rolling applications, and a desire to move to hot rolling introduces demands for research into the thermal balances that develops under operation. This report aims to create an overview into some of the contributions that make up the thermal balance, namely external convection and friction losses in bearings. Other contributions have been investigated by C. Karlsson (Master of Science thesis, Karlstad University, 2018). The heat transfer coefficients obtained for external convection proved to be too small to sustain reasonable temperatures under operation, if no type of cooling apparatus is utilized. Even with external cooling using pressurized air, the convective heat dissipation is too low, due to efficient strip-to-roll conduction. From the modelling performed in this report, friction losses from bearings can be considered as negligible. A model for describing the thermal balances using Newton’s law of cooling was developed, and related to steady state operating conditions by the use of a correction factor. The factor was obtained by comparing the cooling law with the results of a more precise numerical model. The studies in this project elucidate the critical aspects of the thermal balances and provides a basis for further, more detailed modelling.