Step 1: Nature of steelmaking slag.
Slags in steelmaking are typically mixtures of basic oxides (CaO, MgO), acidic oxides (SiO\(_2\)), and iron oxides (FeO, Fe\(_2\)O\(_3\)).
Step 2: Which provides oxidizing power?
- FeO is reducible and can supply oxygen to oxidize impurities such as C, Si, Mn, and P in molten steel.
- SiO\(_2\), CaO, MgO act as fluxes and basic stabilizers, but do not provide oxygen directly.
Step 3: Eliminate options.
- (A) SiO\(_2\): acidic oxide, combines with CaO for slag basicity. Not oxidizing.
- (B) CaO: basic oxide, neutralizes acidic oxides, but not oxidizing.
- (C) MgO: refractory/basic, improves slag stability. Not oxidizing.
- (D) FeO: provides oxygen → oxidizing component.
Step 4: Conclude.
The oxidizing power of steelmaking slags arises primarily from FeO.
\[
\boxed{\text{FeO}}
\]