How exactly does it work?
According to [tex]\nabla \times E = -\partial B / \partial t[/tex], a time-varying magnetic field induces a divergence-free E field; where this intersects a metallic conductor it results in eddy currents and ohmic heating. The magnetic field can be generated by running alternating current through a solenoid.
Then there's a different mechanism that relies on ferromagnet hysteresis loops.
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