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Alnico is an acronym referring to a family of iron alloys which in addition to iron are composed primarily of aluminium (Al), nickel (Ni) and cobalt (Co), hence al-ni-co. They also include copper, and sometimes titanium. Alnico alloys are ferromagnetic, with a high coercivity (resistance to loss of magnetism) and are used to make permanent magnets. Before the development of rare earth magnets in the 1970s, they were the strongest type of magnet. Other trade names for alloys in this family are: Alni, Alcomax, Hycomax, Columax, and Ticonal.
The composition of alnico alloys is typically 8–12% Al, 15–26% Ni, 5–24% Co, up to 6% Cu, up to 1% Ti, and the balance is Fe. The development of alnico began in 1931, when T. Mishima in Japan discovered that an alloy of iron, nickel, and aluminum had a coercivity of 400 oersted (Oe; 32 kA/m), double that of the best magnet steels of the time.