3 Fe + 2 K3[Fe(CN)6]3+ → Fe3[Fe(CN)6]2 + 6 K+
This is an oxidation-reduction (redox) reaction:
3 Fe0 - 6 e- → 3 FeII (oxidation)
2 Fe0 - 6 e- → 2 FeIII (oxidation)
2 FeVI + 8 e- → 2 FeII (reduction)
2 FeVI + 6 e- → 2 FeIII (reduction)
Fe is a reducing agent, Fe is a reducing agent, K3[Fe(CN)6]3+ is an oxidizing agent, K3[Fe(CN)6]3+ is an oxidizing agent.