China Armco Updates Metals Trading Activities, With Fulfillment Of 160,000 Metric Ton Iron Ore Order.
SAN MATEO, Calif., Feb. 17, 2012 /PRNewswire/ -- 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, today provided an update on its trading business.
By February 17, 2012, China Armco had completed the shipment of 160,000 metric tons of iron ore. The shipment of iron purchased from Brazil with a purchase contract value of approximately $17 million has already been sold to our customers in PRC upon favorable terms, representing an auspicious start for 2012. Commenting on this order, Kexuan Yao, Chairman and CEO of China Armco, stated "Capitalizing on our more than 10 years of successful experience working with more than 150 customers in China, our ability to assist our business partners in achieving their goals and satisfying their needs is founded securely upon our distribution channels and growing reputation of excellence in service and reliability."
ABOUT CHINA ARMCO METALS, INC.
China Armco Metals, Inc. is engaged in the sale and distribution of metal ore and non-ferrous metals throughout the PRC and is in the recycling business in the PRC. China Armco's customers throughout China include some of the fastest growing steel producing mills and foundries in the PRC. Raw materials are acquired from a global group of suppliers located in diverse countries, including, but not limited to, Brazil, India, Indonesia, Ukraine and the United States. China Armco's product lines include ferrous and non-ferrous ore, iron ore, chrome ore, nickel ore, magnesium, copper ore, manganese ore, steel billet and recycled scrap metals. For more information about China Armco, please visit http://www.armcometals.com.SAFE HARBOR STATEMENT
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