Building on Andrew's answer, cutting fluids have at least five different purposes, not necessarily all at the same time.
- Lubrication of the tool tip as it penetrates.
- Reducing frictional heat as swarf slides away over the tool's flanks
- Keeping the tool cool by removing heat by evaporation or flooding. The edge lasts longer, which is important with HSS
- Helping swarf slide away by lubricating it.
- Washing swarf away by flooding the job.
The main purpose of cutting fluid during hand-tapping is lubrication. Waste of time flooding the job with suds because tapping doesn't get hot, and because swarf is trapped in the hole anyway. Conversely, heavy roughing cuts in steel with HSS is much more about removing heat and swarf rather than lubrication, hence flooding with cheap suds is a good idea.
Carbide worked at optimum speed and feed gets rid of heat and swarf differently. The tip carves into the work at high speed, deliberately hotter than HSS can cope with to soften the metal, with a chip breaker designed to spray hot chips away from the work. No swarf ribbons. Most of the unwanted heat is carried away by chips being physically thrown away from the job and violently thrown chips don't jamb the cutter. In this scenario, flooding with suds is counter-productive because it hardens the job by cooling it, concentrates unwanted heat at the tool tip, and stops chips flying away. It's also messy. HSS works the same way on short cutting materials like Brass and Cast-iron. (Wot Andrew said!)
In amateur hands at pedestrian speeds, carbide is good news because many long cutting metals don't need cutting fluids either, carbide is cleaner because it can take the heat.
Another danger, HSS benefits from cutting fluids dripped on or splashed with a brush. Bad for carbide because thermal shock is likely to crack it. Carbide and HSS aren't identical, both perform best when used appropriately, including choosing the right cutting fluid.
In practice in a slow home workshop, cutting fluid isn't mission critical. Apart from Brass & Cast-iron; I always use neat cutting oil when threading and sawing; I always put paraffin or WD40 on Aluminium because it tends to weld to HSS and Carbide. Apart from that I mostly cut dry with carbide, unless there's a finish problem. Rather rarely I flood cool my milling machine when removing a lot of steel with either carbide or HSS. The flood cooling system hasn't paid for itself because it's mostly unnecessary in my workshop.
Likely sheer prejudice, but I always use neat oil rather than water-emulsions because I fear rust. Probably complete nonsense, because suds users don't moan about it damaging their machines, other than the collecting tanks of old machines.
Dave
Edited By SillyOldDuffer on 09/06/2020 10:34:17