Yes, FE is a valid Scrabble word!
a strong, hard magnetic silvery-grey metal, the chemical element of atomic number 26, much used as a material for construction and manufacturing, especially in the form of steel
Synonyms: made of iron
a tool or implement now or originally made of iron
Synonyms: tool, implement, utensil, device, apparatus, appliance, contrivance, contraption, mechanism
a handheld implement, typically an electrical one, with a heated flat steel base, used to smooth clothes, sheets, etc.
Synonyms: flat iron, electric iron, steam iron, smoothing iron