Ferromagnetism is a property of certain materials (such as iron) that results in a significant, observable magnetic permeability, and in many cases, a significant magnetic coercivity, allowing the material to form a permanent magnet. Ferromagnetic materials are noticeably attracted to a magnet, which is a consequence of their substantial magnetic permeability.
Magnetic permeability describes the induced magnetization of a material due to the presence of an external magnetic field. For example, this temporary magnetization inside a steel plate accounts for the plate's attraction to a magnet. Whether or not that steel plate then acquires permanent magnetization depends on both the strength of the applied field and on the coercivity of that particular piece of steel (which varies with the steel's chemical composition and any heat treatment it may have undergone).
