I had this question for a while and decided to search it up in a different form. "Is iron (metal) the same as iron in food?" Then I looked up "enriched white flour" to find out they do put shavings of a bar of iron in bread. I learned that that iron had no nutrition value and is a bit toxic because it's metallic. Tell me what you learned.
I saw a pretty cool demonstration of moving corn flakes in water with a magnet. It looks like the elemental iron used to fortify some foods is magnetic. It may not absorb as well into the blood as dietary iron or supplementary iron like non-magnetic iron salts though, so more of it is needed to achieve the same effect as the rest is excreted from the body. There are different forms of elemental iron used to fortify cereals, with varying cost and ability to be absorbed by the body.
Here are other links:
I hope my Mini Wheat and Shredded Wheat cereals are all real. I always look at the labels while I eat it and think of what I'm getting.