Gravity Reduction: Magneto's control over the magnetic and electromagnetic force is so refined that he can shut off gravity within a limited radius of himself by reversing the polarity of the earth's own magnetic field.
Magneto´s powers involve electromagnetism, not just magnetic fields so yes I think he can given he can also alter gravity around himself enough to fly, he also can attract or repel non magnetic metals not directly but he can use the gravity around them to move them around. I would not say Magneto´s popularity raised his powers,even in the silver age when he was not well known and was often called a "poor man´s Dr Doom" , he made big feats like stopping Blackbolts power, manipulate Mjolnir, Cap´s Shield, Iron Man´s armor, make himself invisible given the manipulation over light and alter the trayectory of comets. So yes the X-men movies wanted to mostly keep mutants powers at a street level so the only time we saw Magneto truly manipulate electromagnetic fields was on X-men Apocalypse.
Here´s the list of his powers acording to marvel:
Magnetokinesis: Magneto has comprehensive control over all forms of magnetism and utilizes that control to manipulate any metal and achieve a variety of effects.[181] He recently proved able to effectively hold together the headless form of a Celestial.[182] Magneto can manipulate an entire planet's electromagnetic field and once even pulled back the giant metallic 'bullet' where Kitty Pryde was trapped inside, which was at least a few light-years away from Earth,[183] though these are tasks that require great effort on his part. Magneto's power is comparable with Phoenix's,[184] he has harnessed magnetism to stop armies, raise islands from ocean floors, move mountains, change the course of rivers, and threaten to devastate the world with floods and earthquakes. Magneto once blanketed the entire globe with a self-generated electromagnetic pulse that caused widespread devastation. Moreover, he can use his magnetic powers in more than one way simultaneously. He can completely assemble a complicated machine within seconds through his powers. It is unclear whether Magneto's power is psionic or purely physiological in nature.
Magnetic Force-Fields: Magneto usually protects himself with a personal force field that he can quickly expand to protect large areas. His force field has withstood the effects of multiple nuclear weapons, volcanic eruptions, the depths of space, and attacks from multiple Avengers or X-Men.[185][86] It has protected him against plasma attacks which were hotter than the sun.[186] It also remained intact after being attacked by Ghost Rider and Hercules (Earth-616).[43][citation needed][verification needed] Magneto can also use his force fields to hit or trap an enemy, and also levitate objects and beings in the air.
Magnetic Armor: In addition to the obvious external force fields, Magneto can reinforce the metallic fibers of his uniform with magnetic fields, making his clothing like armor with a durability approaching adamantium.[187] With this ability, he can resist punches from opponents such as Namor or Colossus and remain conscious.[185][188]
Magnetic Rays: Magneto has the ability to shoot powerful rays and electromagnetic pulses, and has shown this ability to destroy both metallic and nonmetallic objects. Magneto can also use this ability to seriously injure his enemies as he did with Storm.[45]
Magnetic Flight: Magneto is capable of sustaining flight for very long distances and at varying speeds. Apocalypse, through attempting to replicate Magneto's power in Mystique, mentions Magneto interfaces with magnetic field lines in his immediate surroundings rather than along it. This was later confirmed by Beast and later Sinister who formed a temporary alliance to snap Mystique out of Apocalypse's influence. However, in order to travel in space, Magneto requires and is limited by the interior capacity of his force field to breathe.
Geomagnetic Link: Magneto's X-gene plays an important role in mediating tactile perception to Earth's electromagnetic field. This trait remained even when rendered temporarily powerless by Lilandra. As it is affected, so is he. He knows instinctively all that happens to it.
Metal/Matter Manipulation: Magneto can perceive and manipulate matter at the sub-atomic level.[184] Magneto also demonstrated the ability to indirectly manipulate non-metallic objects via metal ores they may contain. Magneto is also capable of creating powerful electromagnetic fields capable of moving and manipulating nonmetallic objects, as well as levitating them (he can also do this via force fields). He can even perceive tachyons and a variety of antiparticles.[189]
Metal Morphing: Magneto displayed the power to physically bond metallic substances to other elements at an atomic level. This newly developed technique allows Magneto to blend alloys to earthen, watery, gaseous and even organic substances. Using such a technique was how he could commandeer the techno-organic physiology of Omega Sentinel with such relative ease.[190]
Organic Iron Manipulation: Magneto can control the traces of iron within organic matter and can manipulate the iron-enriched blood-flow to one's brain to potentially induce very limited effects. There are only 2.5 grams of iron in the bloodstream of a healthy human body and perhaps a gram at most in the rest of the body. As a reference, a penny weighs 2.5 grams. Magneto has used his magnetic abilities to extract the adamantium bonded to Wolverine's skeletal structure.
Electromagnetic Sight: By concentrating, Magneto can perceive the world around himself as patterns of magnetic and electrical energy. He can perceive the natural electromagnetic auras given off by living beings.
Electromagnetic Spectrum Manipulation: Although Magneto's primary power is magnetism, he can also project or manipulate any form of energy within the electromagnetic spectrum, though this is extremely tiring for him, so he primarily sticks to magnetism. He can potentially shoot and absorb forms of electromagnetic radiation or energy, create intense heat as infrared radiation, and become invisible by deflecting visible light around his body. The electromagnetic spectrum includes visible light, radio waves, ultraviolet light, gamma rays, and x-rays -- Magneto can project any of these to some extent, though doing so would dramatically tire him.
Electrokinesis: Magneto is capable of generating and projecting powerful bolts of electricity, due to his manipulation over the electromagnetic spectrum. He is capable of absorbing bolts of lightning and projecting an electric aura around himself.
Wormhole Creation: Through an as of yet unknown application of his powers, Erik can open wormholes between two points in space and time in order to traverse the most impassible of distances almost instantly.
Photokinesis: Erik can manipulate, generate and redirect various fields of light as easily as he can bend metal to his will. Becoming invisible by bending it around himself, turning Dazzlers' own luminary based powers against her, creating holographic projections cast from over a world away and change laser trajectory.
https://marvel.fandom.com/wiki/Max_E...dt_(Earth-616)