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Polish as in make shiny or as in stropping an edge ?
I've used the micromesh one for polishing horn & I know it's 1micron paricles in suspension but don't know what it's made of.
Wouldn't bother...

A good strop doesn't need oil unless it is in air con or the desert for a period of time.
You can also use the inside of your wrist to rub a strop.