Machining magnetised steel, any safety concerns?

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Today i need a piece of steel to turn down on my lathe so i grabbed a piece and noticed is magnetised, this piece i bought from the junkyard, together with some steel castings that looked like are for machining bearings. The steel bar is bent so i use an angle grinder to cut a piece off and cuts like any other steel, but is very magnetic it can pick up a screwdrivers, are there any safety hazards with machining those types of steels?


I don't believe so. Since it is a shaft, it isn't likely a sintered part and is homogeneous.
Should be fine. I understand you can demagnetize steel by heating it, but this might not suit your purpose.
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