Newly built condo, drilled maybe 3-3.5cm into the concrete in the living room before it stopped. When I pulled out the drill bit, there was black-gray material that stuck magnetically to the drill bit. Could it be the steel reinforcement? Unfortunately, I don't have any pictures as it's nearly impossible to take a picture inside the hole.

The nearest electrical box/outlet is more than a meter away to the right and left. It's also several meters away to the kitchen/bathroom so it shouldn't be water pipes either?
 
Yes, it is most likely reinforcement.
 
M
Yes, it stops abruptly and becomes exactly as you described when you hit a rebar.
 
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