Disclosed herein is a method of using a water-based coolant for quenching or cutting a metal material. The water-based coolant is formed of: water; at least one inorganic acid salt selected from the group consisting of a carbonate, a hydrogen carbonate, a sesquicarbonate, a phosphate, a borate, a molybdate and a tungstate; a metal corrosion inhibitor; and optionally at least one of a bactericide, a water-soluble rust inhibitor, an antioxidant and a detergent dispersant.