Hemite

(sometimes written as haemite) A magically stable metal typically found a few miles below the surface. Varies from red-brown to crimson in color, more vibrant shades being purer. Very similar mechanical properties to titanium, but refined magically as opposed to chemically: essentially, the ore is placed into an area with enough magical energy concentration that impurities burn away. Hemite's mechanical properties deteriorate in conditions with high magical charge.
Hemite equipment is extremely durable and exhibits excellent strength to weight, being much lighter than steel (though slightly weaker).
Hemite is a form of titanium which uses magical energy in maintaining molecular bonds. It is more chemically unreactive, while being more magically reactive. As a result, it's impervious to practically all corrosive substances (definitely all the mundane ones, at least).
In Eideli culture, hemite and orichalcum are often associated with one another- orichalcum has a faint red tint which brightens when energy is pushed through it, and hemite is naturally a similar shade of red. They also have a very similar refining process, though hemite requries around three times the energy density (which can't be bypassed with blood).
Hemite's lack of chemical reactivity make it workable using methods more similar to iron/steel than traditional titanium.