It is environmentally friendly to use water-based emulsion instead of the oil when cold drawing Al alloy production. In this research, adopting specially prepared water-based emulsion, contact angles and tribological properties of as-selected multilayer diamond films are clarified. The contact angle on diamond film is much smaller than that on WC-Co with the same surface roughness, and tribological behaviors of the diamond film are much better. The effects of surface roughness R a of the film, lubrication, and water content in the emulsion W are studied, indicating that the contact angle increases with W or R a . For the diamond film, lower R a is beneficial for reducing the coefficient of friction (COF), Al alloy ball wear and oxidation, while lower W contributes to the reduction of the COF, ball oxidation, and coated disk wear. Finally, high-speed drawing of high-quality 6021 Al alloy wires (AWs) is accomplished, proving that using coated drawing dies, the water-based emulsion (W < 80 vol %) can totally replace oil, and coated dies under the water-based emulsion lubrication present much elongated lifetime and can guarantee the production quality, compared to uncoated ones under the oil lubrication, in spite of slightly severer wire oxidation.