Not All Iron Is Magnetic Magnetic Elements. Iron isn t the only element that displays magnetismNickel, cobalt, gadolinium, terbium, and dysprosium are also ferromagnetic As with iron, the magnetic properties of these elements depends on their crystal structure and whether the metal is below its Curie point α-iron, cobalt, and nickel are ferromagnetic, while γ-iron, manganese, and chromium ...