Magnet
A permanent magnet is an object made from a material that is magnetized and creates its own persistent magnetic field. An everyday example is a refrigerator magnet used to hold notes on a refrigerator door. Materials that can be magnetized, which are also the ones that are strongly attracted to a magnet, are called ferromagnetic (or ferrimagnetic). These include the elements iron, nickel and cobalt, some alloys of rare-earth metals, and some naturally occurring minerals such as lodestone. Although ferromagnetic (and ferrimagnetic) materials are the only ones attracted to a magnet strongly enough to be commonly considered magnetic, all other substances respond weakly to a magnetic field, by one of several other types of magnetism.
Magnetic alloy
A magnetic alloy is a combination of various metals from the periodic table such as ferrite that contains at least one of the three main magnetic elements: iron (Fe), nickel (Ni), or cobalt (Co) etc.. Such an alloy must contain but is not limited to one or more of these metals. Magnetic alloys have become common, especially in the form of steel (iron and carbon), alnico (iron, nickel, cobalt, and aluminum), and permalloy (iron and nickel). The strongest magnetic element is iron, which allows items made out of these alloys to attract to magnets.