This neodymium block magnet is made of a grade N45 magnetic alloy blend and is coated with epoxy. It is very powerful and has about 59 lbs holding power when pulled directly and placed on steel that is at least 3/4 thick. Hanging strength is less. This magnet has innumerable uses as a holding magnet but is also great for an assortment of both industrial and personal applications and can be used in an almost unlimited amount of ways.