Diamagnetic substances are those in which the individual molecule/atom/ion do not possess any net magnetic moment of their own. When placed in magnetic field they move from stronger part of the field to the weaker part of the field i.e., these are repelled by magnetic field.
Examples of diamagnetic substances are copper, antimony, bismuth, gold, quartz, mercury etc.
Paramagnetic substances are those in which the individual molecule/atom/ion has net non-zero magnetic moment its own. When a paramagnetic substance is placed in an external magnetic field induction B, it tends to align the individual dipole in the direction of the field.
Examples of paramagnetic substances are aluminium, platinum, chromium, chrome, glass etc.
Ferromagnetic substances are those in which each molecule/atom/ion has a non-zero magnetic moment. Individual magnetic moments interact with each other in such a way to align themselves, spontaneously in common direction. All molecular dipole moments in a domain are lined up resulting in some dipole moments.
When ferromagnetic substance is placed in external magnetic field, magnetic moment of different domains are aligned and the material gets strongly magnetised in the direction of field.
Some examples are iron, cobalt, nickel etc.