Ah. Yeah, no... that's magnetized, hard ferrite. Permeability of about air.
Or, more correctly: a modest (average) permeability, but only when you drive it hard enough to remagnetize it; in which case it will quickly melt, because all that magnetic energy is lost as hysteresis.
There may actually be a little (small signal) permeability, no idea. It's not going to be useful though...
There's no fundamental difference between that, and the stuff that's useful to us -- ferrite of either kind is cheap, just mix it in and go. But they have to make a metric shitton of it, to get the price that low. An easily-magnetized (soft) ferrite isn't very useful to consumers, so it's not made in that kind of quantity.
Tim