The most common magnetic element found in meteorites is iron. Another common element in meteorites is nickelwhich is also magnetic. Some meteorites also contain Cobaltwhich again is also magnetic.

The most common meteorites are H-Group Chonderites which make up about 31% of all meteorites ever found. They also contain the most metal at 15 - 20%.

Of this metal normally about 70% is Iron with about 29% nickel and trace amounts of cobalt along with other non magnetic metals including gold, platinum and silver.