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The present invention provides a modifying agent which has excellent coating workability and is capable of providing a neodymium magnet with holding power that suppresses thermal demagnetization. The present invention provides a nonmagnetic slurry composition which is applied to a magnetic body that contains an Nd2Fe14B phase. This nonmagnetic slurry composition has a viscosity at 25°C of 500-5, 000 Pa·s at a shear rate of 0.1 s-1 and a viscosity at 25°C of 10-300 Pa·s at a shear rate of 100 s-1. This nonmagnetic slurry composition contains (A) metal particles of a rare earth/Cu alloy and (B) a binder. The oxygen concentration of the metal particles (A) is less than 3, 000 ppm.