We characterize the structural and transport properties of fluid iron at the low densities and high temperature conditions characteristic to the outer parts of protolunar disks, which form after giant impacts. We observe that decreasing the density and increasing the temperature decluster the fluid, which is eventually dominated by isolated atoms and dimers. In parallel, the electrical and thermal conductivities also decrease at a fast pace. The rapid diffusion enhances chemical equilibrium on large scales and the low viscosity favors turbulence in the disk.