AlNiCo magnets are composed mainly of aluminum, nickle, cobalt and iron with varying additions of other elements including copper and titanium. By varying the composition it is possible to tailor the magnetic properties to meet the needs of a wide variety of end use applications. AlNiCo alloys, which possess the lowest reversible temperature coefficient magnetism in permanent magnet materials, have excellent working temperature up to 550 centigrade. High nickel content of AlNiCo alloy results in good stability against corrosion and oxidation, this metallic composition is also a good electrical conductor.