Ferrite magnets are made form a combination of either Barium (BaO₆Fe₂O₃) or Strontium Ferrite and Iron Oxide. It has a high degree of coercive strength, with more resistance to demagnetization. It can stand relatively high working temperature of up to 600 ^oF with a maximum magnetic range of 0.8 to 4.0 MGOe.It is low in cost.

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