Magnetism
Magnetism is a class of physical phenomena that are mediated by magnetic fields. Electric currents and the magnetic moments of elementary particles give rise to a magnetic field, which acts on other currents and magnetic moments. The most familiar effects occur in ferromagnetic materials, which are strongly attracted by magnetic fields and can be magnetized to become permanent magnets, producing magnetic fields themselves. Only a few substances are ferromagnetic; the most common ones are iron, nickel and cobalt and their alloys. The prefix "" refers to iron, because permanent magnetism was first observed in lodestone, a form of natural iron ore called magnetite, FeO.
Amorphous metal transformer
An amorphous metal transformer (AMT) is a type of energy efficient transformer found on electric grids. The magnetic core of this transformer is made with a ferromagnetic amorphous metal.
The typical material (Metglas) is an alloy of iron with boron, silicon, and phosphorus in the form of thin (e.g. 25 µm) foils. These materials have high magnetic susceptibility, very low coercivity and high electrical resistance. 
The high resistance and thin foils lead to low losses by eddy currents when subjected to alternating magnetic fields. On the downside amorphous alloys have a lower saturation induction and often a higher magnetostriction compared to conventional crystalline iron-silicon electrical steel.