Ferrites ring magnet  are usually non-conductive ferrimagnetic ceramic compounds derived from iron oxides such as hematite (Fe2O3) or magnetite (Fe3O4) as well as oxides of other metals. Ferrites are, like most other ceramics, hard and brittle. In terms of the magnetic properties, ferrites are often classified as "soft" and "hard" which refers to their low or high coercivity of their magnetism, respectively.