Magnetic Hematite Power Bead Bracelet, round beads. 6-7mm beads on an elastic band. Aprox 6-7mm. Magnetic Hematite Power Bead Bracelet. Hematite is a type of iron ore. The name comes from a Greek word 'red'. The stone is a reddish brown but when polished turns metallic grey. Although hematite is naturally a weak magnet, it has been made stronger. Hematite is known to be a very powerful healing stone. People often wear hematite jewelry or carry a hematite stone for it's healing properties. It is also said to alleviate anxiety, relieve pain and purify the blood.