So what is happening here? This amazing video shows the effect of Lenz’s Law – as the magnet falls it induces a current in the copper pipe. That current creates a magnetic field that opposes the changing field of the falling magnet, so the magnet is repelled and falls more slowly. It almost looks like it’s floating through the pipe.
Watch it and get excited about the power of physics (try to ignore the elevator music in the background). Via ScienceAlert.