Magnetite is a natural iron oxide magnet, Our black iron powder products have 98% or more Fe3O4.Magnetite 99% Fe3O4 (Black Iron Oxide). It occurs in crystals of the cubic system, in masses, and as a loose sand. It is one of the important ores of iron (magnetic iron ore) and is a common constituent of igneous and metamorphic rocks.Black iron powder is also used as a colorant for a wide …