Preparation of a rare earth magnet alloy powder for a bonded magnet and rare earth bonded magnet the

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An alloy powder for bonded rare earth magnets is prepared by melting an alloy consisting essentially of 20-30 wt% of Sm or a mixture of rare earth elements (inclusive of Y) containing at least 50 wt% of Sm, 10-45 wt% of Fe, 1-10 wt% of Cu, 0.5-5 wt% of Zr, and the balance of Co, quenching the melt by a strip casting technique, to form a rare earth alloy strip containing at least 20% by volume of equiaxed crystals with a grain size of 1-200 mu m and having a gage of 0.05-3 mm, and heat treating the strip in a non-oxidizing atmosphere at 1000-1300 DEG C for 0.5-20 hours, followed by aging treatment and grinding.