In the blast furnace, iron ore is reduced to iron.
The main iron ore is generally hematite:
\[
Fe_2O_3.
\]
Coke burns in hot air to form carbon dioxide:
\[
C+O_2\rightarrow CO_2.
\]
Then carbon dioxide reacts with more coke to form carbon monoxide:
\[
CO_2+C\rightarrow 2CO.
\]
Carbon monoxide acts as the main reducing agent.
It reduces iron oxide to iron:
\[
Fe_2O_3+3CO\rightarrow 2Fe+3CO_2.
\]
Air and oxygen help in combustion, but they are not the reducing agents.
Carbon dioxide is an oxidized product and is not the main reducing agent.
Therefore, the main reducing agent in iron blast furnace is:
\[
CO.
\]