I have seen a method of magnetic levitation where a magnet moves over a conducting surface with its north pole facing downwards (or the conducting surface moves below the stationary magnet). At a fast enough speed, it can levitate over the surface. Note that the conducting surface is not ferromagnetic. See https://www.youtube.com/watch?v=k2RzSs4_Ur0 from 5:14 to 6:28.
I don't understand how it works. I know it is something about Lenz's law, and this is what doesn't make sense:
As the portion of conductor approaches the magnet, it experiences an increased magnetic flux and creates a current that creates a magnetic flux against the increase (Lenz's Law). This field then repels the magnet.
However, as the portion of conductor moves away from the magnet, it experiences a decreased magnetic flux, and should create a current that creates a magnetic flux in the same direction to oppose the decrease. This field should attract the magnet.
Shouldn't the repulsion and attraction cancel out the vertical forces? Why does the magnet still levitate?
I'm expecting the magnet and conductor to interact similar to magnetic braking:
where there is both an attracting and repelling force.
