Rusting is a common term for the corrosion of iron and its alloys, such as steel. It is an electrochemical process that involves the oxidative degradation of iron in the presence of water and oxygen. The chemical reaction can be simplified as: 4Fe + 3Oâ + 6HâO â 4Fe(OH)â This iron hydroxide further dehydrates to form iron oxide (rust), which is typically reddish-brown in color.