There are about 3 chemical compounds that can be formed from iron and oxygen. The red colored form, rouge, is used for mirror polishing. Another form, rust, will scratch instead of polish. I know of two other people besides myself that have used rouge because they wanted to polish more slowly. All of us ended up with scratches. I now use only cerium oxide and agitate a mix of cerium oxide and water before drawing off a bit for polishing.
A friend has used 'black rouge', Fe3O4. He tells me that it makes a very bright, high polish. Ref
If you like to stay on good terms with 'significant others' remember that iron oxide is very good at making rust stains.
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