Iron is the chemical element with the symbol 'Fe', derived from the Latin word for iron, "ferrum." It is a transition metal known for its magnetic properties and its crucial role in various biological processes. Iron is an essential nutrient for humans, as it is a key component of hemoglobin, which is responsible for transporting oxygen in the blood. Its importance is underscored by the fact that iron deficiency can lead to anemia, fatigue, and other health issues. Iron has a wide range of industrial applications, including in the production of steel and various alloys.