Does magnet conduct electricity

Ferrite magnets are not electrically conductive. This is because they have low electrical conductivity and high permeability. These properties prevent eddy current buildup, which allows devices to perform at their best efficiency.
Ferrites are ceramic materials made from iron(III) oxide and other metallic elements. They are ferrimagnetic, which means they can be magnetized and are attracted to magnetic fields. While neodymium magnets are made from metals like iron and neodymium.