China-based metal recycler and distributor of metal ore and non-ferrous metals, China Armco Metals announces that its trading and metal recycling businesses have completed four new orders received for iron ore and recycled steel on March 2011. The customers are those who serve the Chinese iron and steel manufacturers.
The trading business of China Armco received approximately $14.4 million worth two orders. The company delivered 8,000 tons of chrome and iron ore to the existing clients in China. The other two new orders have been received by China Armco's metal recycling division. The combined value of the contract is nearly $5.4 million. The orders include production and sale of recycled steel, which is 10,000 tons in volume.
China Armco’s Chairman and CEO, Mr. Kexuan Yao states that the company is delighted to receive strong orders through the first quarter, which is week for the steel industry. The metal ore distributor looks forward for measured growth with the end of power conservation plans of the government and stable iron prices.