Diamagnetism is the property of an object which causes it to create a magnetic field in opposition of an externally applied magnetic field, thus causing a repulsive effect. Specifically, an external magnetic field alters the orbital velocity of electrons around their nuclei, thus changing the magnetic dipole moment in the direction opposing the external field. Diamagnets are materials with a magnetic permeability less than (a relative permeability less than 1).
Consequently, diamagnetism is a form of magnetism that a substance exhibits only in the presence of an externally applied magnetic field. It is generally a quite weak effect in most materials, although superconductors exhibit a strong effect.
Read more about this topic: Permeability (electromagnetism)