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It's called a crush washer. While fibre isn't the favorite choice, it s/b OK, the drain plug will remain in place if properly torques as you say.
It may start to leak sooner than the alloy one, if so you can change it. Recommend buy a dozen or so, they're cheap and it's always good to have extras around - they aren't perishable so they'll aways be there when you need them.
Cheers!
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