The best replacement for hematite is magnetite.

The best alternatives to hematite are rated as following:
★★★★★  magnetite
★★★★★  onyx
★★★  meteorite
★★  hemalyke
★★  hematite
★★  neodymium
★  limonite
★  black diamond
★  magnetite iron ore
★  black tourmaline
★  hematine
★  taconite
★  haematite
★  lodestone
  obsidian
  galena
  magnetic hematite

Your alternative for hematite is not listed? Suggest!
Speaking about hematite, one probably shouldn't forget about rutile.

Other search terms related to hematite and their ratings are:
★★★★★ rutile
★ quartz
You have in mind a companion for hematite and it is not yet here? Propose!



Google Trends

Scale is based on the average worldwide traffic of hematite in all years. Click on graph for more.
hematite
magnetite
onyx