Do we have any idea WHY your iron is so low? And is it just your iron that's low, or are you anemic (low red blood cell count)? Seems more likely that you are anemic, because I wouldn't think low iron stores without anemia would be a contraindication to inducing you.
Have you been taking your prenatal vitamins? Eating okay? If the answer to both is yes, then they need to figure out what else is going on to make you anemic. Have you ever had anemia before? Is there any family history of any funny anemias (like pernicious anemia, which requires B12 shots)?. Any family history of celiac disease or other intestinal diseases? Are you a vegetarian or vegan?