Non-magnetic alloys refer to hard alloy materials that are either non-magnetic or weakly magnetic. Since the forming molds for producing magnetic materials require non-magnetic materials, non-magnetic steel was traditionally used. However, these molds have poor performance, low hardness, and short service life. After a period of use, the inner walls of the molds suffer severe scratching, deformation, and other issues, which adversely affect the dimensional accuracy and surface quality of the magnetic materials. Nowadays, non-magnetic hard alloys are employed to replace non-magnetic steel, leveraging their excellent properties to significantly improve work efficiency.