Do you want to lubricate those shutter blades or grind them?
Well, the pencil doesn't do it too. It is the very reason I warned against it.
Is it the ratio of graphite to clay in a pencil that concerns you? Clay as an abrasive?
For a very soft graphite pencil where the proportion of graphite is very high, I wouldn't worry. In relation to fins that slide on one another, such as in an aperture, it is more likely that there are hard grains of dust that can cause abrasion. However, I have never seen aperture blades with such an effect.
Whether you should lubricate aperture blades can be debated. They are not intended for this, but it depends on the application.
If the fins are no longer smooth and this creates resistance, graphite from a very soft graphite pencil could be an option. Also for lubricating other parts that slide on one another. If you prefer 100 % graphite go for this.
If, on the contrary, you want more resistance, i.e. to make something less slippery, you could try rubbing it with a hard graphite pencil. We assume that clay actually creates a friction effect. You have to look at whether material abrasion plays a role here. Maybe this will work, you have to check it out. This effect could also be achieved with grease or a thick lubricant.
These are interesting considerations, thanks to you.
Any form of creativity is welcome in DIY. Practice shows whether something works.
I'll put this in my toolbox
