SAN MATEO, Calif., March 17, 2011 (GLOBE NEWSWIRE) -- China Armco Metals, Inc. (NYSE Amex: CNAM) ("China Armco" or the "Company"), a distributor of imported metal ore and metal recycler with a new state-of-the-art scrap metal recycling facility in China, announced today that it has delivered its first shipment of 150,000 metric tons of iron ore, valued at $19.8 million, from Mineracao Usiminas S.A (Usiminas), one of Latin America's largest producer of steel based in Brazil. With a total capacity of 9.5 million metric tons of steel per year, Usiminas' order marks the start of a long term relationship between the two companies. With this agreement concluded at a recent meeting between the management of both companies in Brazil, China Armco becomes the first company to assist Usiminas to export its iron ore to China.
Brazilian Steel Giant Inks Major Metal Distribution Agreement With China Armco
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