Transition metal atoms often have magnetic moments

Transition metal atoms often have magnetic moments due to the net spin of electrons which remain unpaired and do not form chemical bonds. In some solids the magnetic moments on different atoms are ordered and can form a ferromagnet, an antiferromagnet or a ferrimagnet.
In a ferromagnet—for instance, solid iron—the magnetic moment on each atom is aligned in the same direction (within a magnetic domain). If the domains are also aligned, the solid is a permanent magnet, which is magnetic even in the absence of an external magnetic field. The magnetization disappears when the magnet is heated to the Curie point, which for iron is 768 °C.
An antiferromagnet has two networks of equal and opposite magnetic moments which cancel each other out, so that the net magnetization is zero. For example, in nickel(II) oxide (NiO), half the nickel atoms have moments aligned in one direction and half in the opposite direction.
In a ferrimagnet, the two networks of magnetic moments are opposite but unequal, so that cancellation is incomplete and there is a non-zero net magnetization. An example is magnetite (Fe3O4), which contains Fe2+ and Fe3+ ions with different magnetic moments.


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