Permanent Ferrite Magnet is sourced from SrO or BaO and Fe2O3. It is cheaper than other magnets because of lower price for raw material and simpler production. Oxide is the main composition of Ferrite, so there is no need to be electroplated. It is not suffered from environmental or chemical substances (except the acid) corrosion. They are mainly used in crafts, adsorption pieces, toys, motor, speaker, etc.