Make steel plates yourself from coal and iron, to bars to plates. Buy nats and theres a profit. 2 x coal + 1 iron ore = 1 steel bar 2 x 180 + 90 = 450 coins per steel bar steel bar x 5 + nature rune = cost to alch 2250 + 250 = 2,500 coins to alch 1,200 per alch. 1,300 coins lost per plate. You could first: mine coal and iron make into bars smith alch you'd get a profit on that, but just alching from bar state will lose you money.