An electromagnetic force is produced by this setup.
The question suggests the construction of a solenoid with an iron core.I have attached an image. A solenoid has an iron core wrapped around by insulating wires. When the insulating wires are connected to a battery or a voltage source, current flows in the wire and travels through the wrapped region around the iron core. Now, this current produces a magnetic field inside the solenoid, directed along the axis of the solenoid. When the iron core comes under the influence of this magnetic field, it magnetizes and acts as a strong magnet and can produce magnetic force. The force generated through this process is called electromagnetic force.
When the battery is removed, the solenoid returns to its original state, which is it doesn't act as a magnet anymore. By the way, iron retains some magnetization.
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