A magnetic composite for AC applications with improved magnetic properties (i.e. low hysteresis losses and low eddy current losses) is disclosed. The composite comprises a consolidation of magnetizable metallic microlamellar particles each having a top and bottom surfaces and opposite ends. The top and bottom surfaces are coated with a dielectric coating for increasing the resistivity of the composite and reducing eddy current losses. The dielectric coating is made of a refractory material and the ends of the lamellar particles are metallurgically bonded to each other to reduce hysteresis losses of the composite. A process for manufacturing the same is also disclosed. The composite is suitable for manufacturing devices for AC applications such as transformers, stator and rotor of motors, generators, alternators, field concentrators, chokes, relays, electromechanical actuators, synchroresolvers, etc.

 
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