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Steel dies are the least expensive and quite suitable in many applications . These are versatile in that they can be reworked to use for drawing larger wire sizes after they wear or are damaged. In some cases where the use of steel dies is appropriate, it might be a waste of money to apply carbide or diamond, so a steel die would be the best.

Carbide dies have improved durability at a higher cost and for many multi-die operations where die change aren't frequently done, carbide dies offer a cost effective best soluution. Diamond, being the hardest material, offers the lowest wear scenario and is often used when a very narrow dimensioanl tolerance is needed on the wire. These are the most expensive and best used when needed to support product quality.