An iron-based powder for powder metallurgy includes an iron-based powder and a composite oxide powder, and the composite oxide contains, by mass, from 15% to 30% Si, from 9% to 18% Al, from 3% to 6% B, from 0.5% to 3% Mg, from 2% to 6% Ca, from 0.01% to 1% Sr, and from 45% to 55% O.
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