Lets say you were in a space station in microgravity. If you were to suspend a magnet in the air would it migrate slowly towards the nearest magnetic surface?
Yes it would move towards the nearest magnetic surface, although the walls of the ISS say, are so packed with gear, it might be difficult to find the right surface, that is not insulated or made from a substance that is not strongly affected by magnetic fields.
The reason I gave a (very short) answer this question is to include Magnets in Space, which shows you a magnet reacting to the Earth's magnetic field. This video is narrated, in space, by Richard Garriott, who is, BTW, the son of Owen Garriott, who also was an astronaut. So there... Starts at 0.30 on the video