Hi, this set is actually amazingly good.
http://www.smogon.com/bw/pokemon/magnemite
Quality Control: 2/2 [Aerrow] [Moo]
Grammar-Prose: 2/2 [NixHex] [Moo]
[SET]
name: Air Balloon + Magnet Rise
move 1: Magnet Rise
move 2: Volt Switch
move 3: Hidden Power Fire
move 4: Flash Cannon
item: Air Balloon
ability: Magnet Pull
nature: Modest
EVs: 240 SpA / 240 Spe
[SET COMMENTS]
<p>While the Steel Trapper set takes a more rounded approach in order to defeat nearly every single Steel-type in Little Cup, this set focuses on one target: Bronzor. Air Balloon allows Magnemite to avoid Earthquake from Bronzor, the only move it carries that can significantly damage Magnemite. Magnet Rise is a backup, as Magnemite's Air Balloon can be broken on the switch-in with Psychic or Hidden Power Ice. Volt Switch is used on this set over Thunderbolt, as it allows Magnemite to work as a pivot against teams that do not use Bronzor. Although Thunderbolt hits Bronzor slightly harder than Hidden Power Fire, it gives this set a bit more utility by taking out Ferroseed. Hidden Power Fire still allows Magnemite to 3HKO Bronzor and does over 50% damage to Recycle versions, meaning that they cannot simply stall Magnemite out of Hidden Power PP. Flash Cannon hits Pokemon such as Hippopotas, Lileep, and Drilbur, 2HKOing all three. In addition, Magnemite works well against sand teams, as with Air Balloon and Magnet Rise it resists or is immune to both Hippopotas's and Drilbur's regular attacking moves.</p>
[ADDITIONAL COMMENTS]
<p>Thunderbolt can be used over Volt Switch to hit bulky Water-types such as Slowpoke and Frillish harder, but these Pokemon are likely to switch out anyway, and Volt Switch easily provides momentum. Charge Beam can be used against Bronzor, as it will be able to do nothing as long as Magnet Rise or Air Balloon are active, but Magnemite is still somewhat slow and is easily revenge killed by the common Mienfoo, Croagunk, and Staryu. The EVs and nature are standard, allowing Magnemite to hit as hard as possible.</p>
<p>Drilbur is by far the best partner for this set, as it greatly enjoys the removal of Bronzor. Once Bronzor is removed, Drilbur can easily set up with Swords Dance and proceed to destroy many teams. After Magnemite successfully kills Bronzor or another Steel-types, Chinchou and Staryu are common switch-ins to Magnemite. A Chinchou of your own is helpful to wall the previously mentioned Water-types and can also use Volt Switch for a free switch into Drilbur. Fighting-types that are faster than Magnemite, such as Mienfoo, can OHKO Magnemite before it does anything. A Ghost-type, such as Gastly or Frillish, is helpful for taking out these Pokemon, and can even cause them to hurt themselves via Hi Jump Kick. Lastly, Scraggy can easily set up on this set, so carrying a check or counter, such as Mienfoo or Croagunk, is useful. In sand, Drilbur can also revenge kill a weakened Scraggy.</p>

http://www.smogon.com/bw/pokemon/magnemite
Quality Control: 2/2 [Aerrow] [Moo]
Grammar-Prose: 2/2 [NixHex] [Moo]
[SET]
name: Air Balloon + Magnet Rise
move 1: Magnet Rise
move 2: Volt Switch
move 3: Hidden Power Fire
move 4: Flash Cannon
item: Air Balloon
ability: Magnet Pull
nature: Modest
EVs: 240 SpA / 240 Spe
[SET COMMENTS]
<p>While the Steel Trapper set takes a more rounded approach in order to defeat nearly every single Steel-type in Little Cup, this set focuses on one target: Bronzor. Air Balloon allows Magnemite to avoid Earthquake from Bronzor, the only move it carries that can significantly damage Magnemite. Magnet Rise is a backup, as Magnemite's Air Balloon can be broken on the switch-in with Psychic or Hidden Power Ice. Volt Switch is used on this set over Thunderbolt, as it allows Magnemite to work as a pivot against teams that do not use Bronzor. Although Thunderbolt hits Bronzor slightly harder than Hidden Power Fire, it gives this set a bit more utility by taking out Ferroseed. Hidden Power Fire still allows Magnemite to 3HKO Bronzor and does over 50% damage to Recycle versions, meaning that they cannot simply stall Magnemite out of Hidden Power PP. Flash Cannon hits Pokemon such as Hippopotas, Lileep, and Drilbur, 2HKOing all three. In addition, Magnemite works well against sand teams, as with Air Balloon and Magnet Rise it resists or is immune to both Hippopotas's and Drilbur's regular attacking moves.</p>
[ADDITIONAL COMMENTS]
<p>Thunderbolt can be used over Volt Switch to hit bulky Water-types such as Slowpoke and Frillish harder, but these Pokemon are likely to switch out anyway, and Volt Switch easily provides momentum. Charge Beam can be used against Bronzor, as it will be able to do nothing as long as Magnet Rise or Air Balloon are active, but Magnemite is still somewhat slow and is easily revenge killed by the common Mienfoo, Croagunk, and Staryu. The EVs and nature are standard, allowing Magnemite to hit as hard as possible.</p>
<p>Drilbur is by far the best partner for this set, as it greatly enjoys the removal of Bronzor. Once Bronzor is removed, Drilbur can easily set up with Swords Dance and proceed to destroy many teams. After Magnemite successfully kills Bronzor or another Steel-types, Chinchou and Staryu are common switch-ins to Magnemite. A Chinchou of your own is helpful to wall the previously mentioned Water-types and can also use Volt Switch for a free switch into Drilbur. Fighting-types that are faster than Magnemite, such as Mienfoo, can OHKO Magnemite before it does anything. A Ghost-type, such as Gastly or Frillish, is helpful for taking out these Pokemon, and can even cause them to hurt themselves via Hi Jump Kick. Lastly, Scraggy can easily set up on this set, so carrying a check or counter, such as Mienfoo or Croagunk, is useful. In sand, Drilbur can also revenge kill a weakened Scraggy.</p>