The effect is much smaller than paramagnetism as can be seen from the following table. Cu 0.9999903 Curie's Law Pierre Curie found that magnetisation decreases with temperature. Above the Curie Temperature , magnetisation disappears completely. The Magnetic Dipole Moment gives the turning effect of an external magnetic field on a current loop. The Magnetisation of a material is the net magnetic moment per volume.
Ferromagnetism comes from the large increase in magnetisation when domains are aligned.
Hysteresis occurs because the domain re-organisation lags behind the changes in the applied field. Paramagnetic materials are weakly attracted to a magnet. Diamagnetism materials are weakly repelled from a magnet. Temperature decreases magnetisation.