  Based on ab initio total energy calculations we show that two magnetic states
of rhodium atoms together with competing ferromagnetic and antiferromagnetic
exchange interactions are responsible for a temperature induced metamagnetic
phase transition, which experimentally is observed for stoichiometric
alpha-FeRh. A first-principle spin-based model allows to reproduce this
first-order metamagnetic transition by means of Monte Carlo simulations.
Further inclusion of spacial variation of exchange parameters leads to a
realistic description of the experimental magneto-volume effects in alpha-FeRh.
