Magnets on Smart Connector

Your iPad does contain magnets - with which it will hold the iPad securely in place when using a compatible Apple Smart folio keyboard, or Magic Keyboard for iPad.

As you have observed, the iPad magnets will also readily adhere to steel/ferrous surface.

The iPad Smart Connector is obviously an electrical connector. While the voltage is far too low to cause you any harm, if short-circuited, you may cause damage to the iPad itself. If the iPad is not in a case that protects the back of the iPad, you might consider placing a strip of insulation over the Smart Connector contacts.

Hey there Qwerty292,

The information below will help address concerns regarding magnetic interference and Apple devices:

Magnetic interference. The Magic Keyboard and Magic Keyboard Folio contain magnets that hold iPad securely in place. Avoid placing cards that store information on a magnetic strip—such as credit cards or hotel key cards—on Magic Keyboard and Magic Keyboard Folio surfaces that attach to iPad, as such contact may demagnetize the card.

For additional details: Important safety information for iPad - Apple Support

Take care!