A method of manufacturing an iron-base alloy

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PROBLEM TO BE SOLVED : To stabilize the feeding rate of the molten raw material onto a cooling roll at the time of producing an iron alloy magnet by using a melt superquenching method and to suppress the variation of a cooling rate. SOLUTION : At the time of producing an iron alloy (containing 1 to 7 atomic % rare earth elements R and 15 to 20 atomic % semimetals M) by the melt superquenching method, the concentration of oxygen in the molten alloy is controlled at <=1, 000 ppm, and the viscosity coefficient η of the molten alloy is controlled to <=20 mPa.sec.