Diamond lapping fluid is basically water soluble coolant. It is coolant that is mixed with water and it gives the water some added features. But some of the problems with it is it get stronger as the water evaporates and it needs to be tested often. Other problems that can arise are coolant allergies that develop over time. The the major problem is a residue is left behind and that will cling to a surface in the form of a with a film. and that will need to be cleaned off before the surface can be used again.
To get to the point is can be a sticky mess that needs to be cleaned with water and a brush, and it takes time to dissolve. And the finer the grit easier the easier it is for the coolant to load up around the diamonds.
People think they need it because one of the selling points is it stops the metal from rusting. And it will do that. but the mess left over from repeated use gets harder and harder to clean off.
Just plain water is a better lapping medium. The plate can be cleaned very easily with water after use and after wiping it down with a clean paper towel, I finish it off with a hot air gun or a hair drier. Water can't cause rusting where there it no water
The coolant cost $13 for a 3.4 once bottle and will be gone shortly. My Wagner hot air gun was about $30 and I have been using it for lots of different purposes for over the last 5 years. I use it to dry my diamond lapping plate and in that frame no hint of rust.
You can run out of the lapping fluid but water should always be available.
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