When I worked at Mullard Magnetic Components in the 60's where they made besides other materials, 'steel' magnets, you could get a round bar magnet say 3/4" dia x 4" long hold it in your palm and break it in two with a hammer without hurting yourself it was so brittle, just like Seaside Rock, when tapped holes were required the magnets would be cast with a plain hole to suit a threaded insert.
I used the description 'steel' only because they looked like steel, their composition was very different.
John