Magnetic Properties of Materials

Diamagnetic Materials
Diamagnetic materials are those which have a very weak negative magnetic susceptibility. This means that when placed in a magnetic field, they develop a very weak magnetic moment in the opposite direction to the applied field. As a result, diamagnetic materials are repelled by a magnetic field and tend to move away from it.

Paramagnetic Materials
Paramagnetic materials have a positive magnetic susceptibility, which means that when placed in a magnetic field, they develop a weak magnetic moment in the same direction as the applied field. As a result, paramagnetic materials are weakly attracted to a magnetic field and tend to move towards it.

Ferromagnetic Materials
Ferromagnetic materials have a very high magnetic susceptibility, which means that when placed in a magnetic field, they develop a strong magnetic moment in the same direction as the applied field. This strong magnetic moment causes ferromagnetic materials to be strongly attracted to a magnetic field and tend to align themselves with the field.

Ferrimagnetic Materials
Ferrimagnetic materials are similar to ferromagnetic materials in that they have a high magnetic susceptibility and tend to align themselves with a magnetic field. However, unlike ferromagnetic materials, ferrimagnetic materials have two different types of magnetic ions with opposing magnetic moments. As a result, the alignment of the magnetic moments is not as strong as in ferromagnetic materials.

Suspended Freely
When a material is suspended freely, it means that it is free to rotate and align itself in any direction. In the absence of any external forces or torques, the material will naturally align itself in a way that minimizes the effect of any external fields.

Setting Parallel to the Magnetic Field
In this case, the material is slowly setting itself parallel to the direction of the magnetic field. This means that it is aligning itself in the same direction as the applied field.

Conclusion
Out of the given options, the material that slowly sets itself parallel to the magnetic field when suspended freely is paramagnetic materials. This is because paramagnetic materials have a positive magnetic susceptibility and tend to develop a weak magnetic moment in the same direction as the applied field. As a result, they are weakly attracted to the magnetic field and tend to move towards it, eventually aligning themselves parallel to the field.