Valenite used to get ther VNT 700 from Cincinnnati Milicron. We developed a liking for teh CM stuff and went back to them direct. IT is good for both lathe, mill and grinding. We usea recommend concentration for grinding, the concetration for lathe or mill work is a bith higher. No problems with smell, no issues with rancidness. IT is pricey at over 20 dollars a gallon inf 5 gal pails. If you liked VMT700 w/ or w/o blue dye, you'll like this. If you call Cincinnnatie, they can figure out what the stuff is called.