The oxide(s) of iron that would be obtained on its prolonged reaction with steam is
Fe3O4
Metals react with water to form metal hydroxide and hydrogen gas. Iron does not react with cold or hot water. It reacts with steam to give Fe3O4 and H2 gas. The reaction takes place as follows:
3Fe(s)+4H2O(g)→Fe3O4(s)+4H2(g)