Neodymium magnets, commonly called new magnets, are made of an alloy of neodymium (Nd), iron (Fe), and boron (B). Neodymium magnet alloys form microscopic crystals. The crystals can be aligned during fabrication by a strong magnetic field, which causes all of their magnetic axes to point in the same direction. Once magnetized, neodymium magnets are more or less permanent.

  The basic compound of most neodymium magnets is Nd 2 Fe 14 B. For higher temperature magnet grades, additional elements are added. When cobalt (Co) is used to replace a small amount of iron (Fe), the performance at high temperatures increases, but the intrinsic coercivity decreases. If you replace a small portion of neodymium ( Nd ) with dysprosium ( Dy ), the intrinsic coercivity increases, but the maximum energy product (BHmax, a good measure of magnet strength) decreases. Often Co and Dy are used together.

  The chemical reaction takes place in a vacuum induction furnace. The product is heated by creating a vortex, all in a vacuum to prevent contaminants from entering the reaction.

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