The lee sizing die wax is water souluable and does good. I have even thined it 50-50 with water when I wanted a thinner coating. Again a little bit goes a long ways here. I suspect its a repackaged industrial swaging lubricant. We had a water souluable swage lube that was used for drawing cans and it was about the same consistancy and scent..... I use the Lee also for sizing , lubing paper patches and have been experimenting a little with it for mould lube.