Abstract: A metal drawing compound is described which is formed by dipping or otherwise coating metal drawing stock with an aqueous soap-borate composition having a pH in the range of from about 7.6 to less than about 9.0. The solution can be allowed to dry on the workpiece, or can be used as a wet film and then drawn conventionally. In a preferred embodiment of the invention the soap-borate composition is prepared by admixture with a borate compound selected from the group consisting of potassium pentaborate, ammonium pentaborate and sodium octaborate in neutral pH water of solution.