The common name for the element with the symbol 'Fe' is iron. It is a metallic element known for its strength and durability, making it one of the most widely used materials in construction, manufacturing, and various industries. Iron is found abundantly in the Earth's crust and is typically extracted from iron ores like hematite and magnetite. In addition to its industrial applications, iron plays a crucial role in biological processes; it is an essential component of hemoglobin, the protein in red blood cells responsible for transporting oxygen throughout the body. Its versatility and importance make it a cornerstone of modern civilization.