How can boric acid be prevent rust?

I believe that many bosses who do metal processing, in order to prevent oxidation and rust in cutting devices, often use cutting fluids containing boric acid, so why can boric acid prevent rust and oxidation?

As we all know, metal components in the cutting process, inevitably to be exposed to the air, by oxygen, moisture or various corrosive substances erosion, resulting in oxides, in fact, this oxide is the so-called metal rust, will not only cause damage to the metal surface, but also affect the service life of metal components. The principle of the anti-rust and anti-oxidation of boric acid is that it can react with the oxide or hydroxide on the metal surface to produce borate, which has strong adhesion and corrosion resistance, and can be covered on the metal surface to form a stable protective film to prevent the metal from being further oxidized and rusted. In addition, boric acid also has corrosion inhibition properties, which can slow down the corrosion rate of the metal surface and extend the service life of the metal.