Yes it does, but ferrite magnet that i used handles heat better than neodyme. It needs about 500 degrees of celsius that it demagnetises. And when it cools down its magnetig again. Little weaker tought. Continous over 100 degrees of celsius, slowly weakens it.
But that doesn't happen fast.
We use magnets at my workplace for supporting ceramic welding backings. It takes about a year before magnet is useless.
Coal was to have small portable solution, wich can be used as a positioner if sometimes needed.
For a daily use there are more reliable versions.
Magnet costs about 2.5e, so its not much if it needs to change once a year. Clamp connectors costs more than that, i tend to broke those more often.
Originally i made this for welding this kind of pressurised fuel containers..
When connector is sticked to the end, grounding cable doesn't get twisted.
I made much better video first, but my storage drive stopped working... so i made a new video, with less examples.

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