A magnetic drill is a specialized portable power tool used for drilling holes in steel and similar metals. They are used on the job site or in the shop. Also referred to as a mag drill, portable base drills, portable drill press. It can be time-consuming and cumbersome to try to maneuver large steel or pipe into position at a stationary drill press or work center. A portable magnetic drill allows you to take the drill to the work piece, instead of trying to bring the work piece to the drill.