Abstract: The present invention provides a cold rolling oil for steel sheets characterized by incorporating various rolling oils with oil-soluble high-molecular compounds which are obtained by salt-forming:(a) homopolymers of nitrogen-containing monomers or copolymers of two or more of said monomers having the following general formulae (I) and (II): ##STR1## wherein R.sub.1 is H or CH.sub.3, and R.sub.2 as well as R.sub.3 are CH.sub.3, C.sub.2 H.sub.5, or C.sub.3 H.sub.7, respectively, or(b) copolymers selected from at least one nitrogen-containing monomers having said general formulae (I) and (II) and at least one of acrylic or methacrylic acid, or the alkyl esters or alkyl amides thereof.with a compound selected from fatty acids of 6-9 carbon atoms, diesters of fatty alcohols of 6-9 carbon atoms and phosphoric acid and mixtures thereof.