Eddy currents

Varying magnetic field generates
currents in conducting plate

Consider a changing magnetic field perpendicular to an extended conductor such as a plate. The induced electric field causes circulating currents called Eddy currents. These currents can also be produced in a conductor when it moves through a magnetic field. They are mainly the factor of dissipating energy in form of heat, in the conductor, at the rate RI². The process is called induction heating.