The magnets are made of this mixed with magnetized ferrite rubber / plastic that is known even from the back of this flexible fridge magnets. The magnetic force is in this magnetic places quite weak and therefore the magnets make it, unfortunately, only with much effort the weight of the jaws to wear. Even with light touches the jaws slip, or fall at the same all the way down. Here "right" Magnets do not urgently, holding the jaws clearly fixed on the vice.
The rubber pads serve their purpose to keep workpieces without scratches, but they leave with attention clamped workpieces sometimes black marks, which are then later (depending on the workpiece surface) need to be more or less cleaned off / grinded cumbersome.
The jaws fulfill almost their purpose adequately. In the manufacture of stronger magnets and an abrasion resistant rubber would have been just as expensive cent. This additional price I would have liked even paid.