Graphite powder is fine, all you need. A little grease is fine if that's what you want to use - but the problem with grease is that things stick to it so if it gets somewhere that it shouldn't you can get clumping and weirdities like that. You used to hear about contamination, but with modern coatings on powder and primers not such a problem. Safer to stick to dry powder lube or one of the waxes if in doubt.
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