The answer is yes. MFDC can be used to heat 10 mm bars.
In this application the equipment could be running nearly continuously. In the design of the equipment care must be taken to make sure the equipment is cooled adequately to insure it does not overheat. Additionally the MFDC equipment must be sized properly.
Properly cooled and sized MFDC will handle this job nicely and perform well.
This is a classical application of Joules Law:
The heat is being generated by the resistance to the flow of current through the material.
Reference: RWMA, Resistance Welding Manual 4th Edition