Magnet
Rare earth (lanthanoid) elements have a partially occupied "f" electron shell (which can accommodate up to 14 electrons). The spin of these electrons can be aligned, resulting in very strong magnetic fields, and therefore, these elements are used in compact high-strength magnets where their higher price is not a concern. The most common types of rare-earth magnets are samarium-cobalt and neodymium-iron-boron (NIB) magnets.
Curie–Weiss law
The magnetization or magnetic polarization of a magnetic material is the vector field that expresses the density of permanent or induced magnetic moments. The magnetic moments can originate from microscopic electric currents caused by the motion of electrons in individual atoms, or the spin of the electrons or the nuclei. Net magnetization results from the response of a material to an external magnetic field, together with any unbalanced magnetic moment that may be present even in the absence of the external magnetic field; for example, in sufficiently cold iron. We call the latter spontaneous magnetization. Other materials that share this property with iron, like Nickel and magnetite, are called ferromagnets. The threshold temperature below which a material is ferromagnetic is called the Curie temperature and varies between materials.