yuánzì Chinese characters of the chemical elements
失

失 shī

“lose; make mistake, neglect”

On its own, an ordinary character; Cantonese sat1. Readings and gloss from the Unicode Unihan database.

Carries Iron

钅 metal → solid metal
+
失 shī
=
铁 tiě · Fe 26

Not a plain transliteration: the component was chosen for its meaning, or the name is older than the system.

The reading drifted: the component is read shī, the element tiě.