A novel electromagnet for moving tubular members is described, in which the flux lines extend only downwards in the direction of the load whereas the laterally dispersed magnetic field is substantially absent. The polar yoke of such an electromagnet has two North polarity cores on which two solenoids are wound, protected on the bottom by annular baffles made from non-magnetic material, and side panels made from ferromagnetic material extend along both sides and pass next to the two cores magnetically connecting the three South polarity poles, the side panels being magnetically insulated from the two cores. The thickness of the side panels is sized such that they are suitable to short-circuit the whole lateral flux preventing the dispersion thereof and conveying it completely towards the polar shoes of the three poles and into the material to be magnetized thus actively contributing to the lifting of the latter.