I don't use wax, don't understand me wrongly I don't dislike bees, but to my humble opinion, BALLISTOL gun oil is a better en polyvalent product, not only for metal but for leather, rubber, plastics (ABS in particular) and wood too.
It protects, lubes (without getting greasy nor sticky) and it cleans, it withstands extreme temperatures and humidity, and, till a certain extend, seawater.

This mineral based oil was formulated more than 100 years ago for the Prussian Imperial Army, where Leather, wood, natural fabrics, natural rubber, ropes, weapons (and explosives), iron and steel, humans and horses where so common and had to be taken care of.

I use it on (and in) my Leica, Pentax, Hasselblad, Linhof, Silvestri, enlargers, car, bike and a whole lot in the household. Even on (superficial-) skin wounds and insect bites...