Iron, nickel, cobalt, gadolinium, and neodymium are the elements known for making strong magnets.
Matter is made of atoms which are made of Protons, Neutrons, and Electrons.
In most substances, equal numbers of electrons in shells (orbits) spin in opposite directions, which cancels out their magnetism. But in magnetic elements like Iron, Cobalt, and Nickle the electrons in the outer shell spin in the same direction which allows them to carry a magnetic field that accumulates instead of cancelling out. When polarized (when an outside a magnetic field points them all in the same direction) all of these fields from all the atoms accumulate creating a magnet.
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