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Corporate Profile
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www.WallStreetENews.com - CNAM Trading Update
OTCBB: CNAM |
Potential BIG Gainer for this metal stock!
CNAM continues to attract Day-Traders & Investors. | Get in now and watch CNAM take off! |
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LATEST NEWS RELEASE |
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China Armco Metals Completes Delivery of Iron Ore for Contract Valued at Approximately $13.2 Million
SAN MATEO, CA - China Armco Metals, Inc. (OTC.BB: CNAM), a distributor of imported metal ore with plans to launch a new state of the art scrap metal recycling facility in China, today announced that Armco & Metawise, Ltd. the Company's wholly owned subsidiary, has completed delivery of iron ore to a China based steel company pursuant to a contract that will generate sales of approximately $13.2 million in the fourth quarter of 2009.
Commenting on the contract, Mr. Kexuan Yao, CEO and Chairman of China Armco Metals, Inc., stated, "We are pleased to complete the delivery of iron ore for this contract as we strengthen our sales efforts in the China steel industry in the fourth quarter. We look forward to building on our relationship with this and other steel customers in the coming quarters as we continue to see strong momentum heading into 2010."
Investors are urged to monitor the progress of the company!
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Why Consider CNAM? |
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China's market for steel scrap offers excellent investment opportunity
China consumes over 500 million tons of steel annually
Only 100 million tons of steel scrap are utilized in China per year, China currently has an estimated 40 million ton shortage in supply
of steel scrap
China's 10% annual economic growth ensures the steady growth of the steel industry
Armco's steel scrap recycling project is located in Jiansu Province, China Iron & Steel Association and China Scrap Steel Application
Association have designated the area as the pilot zone for steel scrap processing
The Chinese government intends to make Jiangsu province the premier location for steel scrap recycling in China. The Chinese central
and Jiangsu provincial governments are issuing preferential tax treatment for steel scrap recyclers to operate their business.
China has a remarkable growth
opportunity for the steel scrap usage in
steel making
Recently reported a substantial increase in revenues and net income for its 2009 second quarter.
- Revenues increased 71.8% to $22.5 million
- GAAP EPS increased 38% to $0.33
- Calculated tax-adjusted non-GAAP EPS increased 250% to $0.21
China Armco should directly benefit from the China stimulus plan. On July 16, 2009 China released figures stating that GDP growth for the 2009 second quarter came in at 7.9%, easily surpassing expectations and giving some indication that the government's quick and aggressive response to the global recession is taking hold.*
Favorable industry trends as discussed in the China Armco's filings:
Steel - We believe that domestic steel production will continue to witness significant growth as China continues to grow. The steel industry is an important basic industry of the national economy of China, and plays a vital role in the recent industrialization efforts of the country. Production volume in China has more than doubled within the past five years. China’s share of the world's steel production continued to grow in 2008 representing 38% of the world's total crude steel production.*
Recycling - The energy saved by recycling reduces the annual energy consumption of the industry by approximately 75%, which supports the government's energy conservation goals. The PRC identified the scrap metal recycling industry as a way to minimize the use of scarce natural resources and reduce energy consumption and emissions in the steel manufacturing industry. In China, the scrap metal recycling industry is highly fragmented with no dominant player.*
* SOURCE: GeoTeam.
A Low Cost Provider in the Industry
One of the core competitive advantages of Armco is its ability to provide low cost products to their customers. This is a direct result of its excellent sourcing and vender management capabilities. After the completion of recycling metal project Armco will further strengthen its low cost position by investing in advanced technology, controlling raw materials cost, increasing supplier base, lowering logistics expense, broaden economy of scales, and enhance automated production lines. Its value is derived from both low cost and superior quality.
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Company Snapshot |
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Business Summary
China Armco Metals, Inc., through its subsidiaries, imports, sells, and distributes metal ores and non-ferrous metals to the metal refinery industry in China. The company imports metal ores from suppliers in Brazil, India, South America, Oman, Turkey, Iran, Libya, Nigeria, Indonesia, and the Philippines, and resells the metal ores in China. It sources a range of raw materials, which include iron ore, coal, chrome ore, nickel ore, copper ore, scrap metal, and manganese ore. The company sells its products to steel producing mills, steelmakers, and foundries, as well as to brokers who aggregate materials for other users. It also engages in the recycling of scrap steel. The company was founded in 2001 and is based in San Mateo, California.
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Current Stock Data |
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Recent Company News |
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- China Armco Metals Reports Financial Results for the First Nine Months of 2009 and Forecast for Full Year 2009 - Tuesday November 24, 2009
- Toro Research is initiating coverage of China Armco Metals, Inc. with a speculative "BUY" recommendation - Tuesday September 29, 2009
- China Armco Metals Completes Contract to Supply Iron Ore Valued Approximately $15.98 Million in the Third Quarter of 2009 - Tuesday September 22, 2009
- China Armco Metals Finalizes Contract to Supply Iron Ore Valued Approximately $8 Million in the Third Quarter of 2009 - Wednesday September 9, 2009
- China Armco Metals, Inc. to Present at the Rodman & Renshaw Annual Global Investment Conference in New York City on September 10, 2009 at 12:30 PM EDT - Tuesday September 1, 2009
- China Armco Metals Completes Construction of Metal Recycling Facility - August 25, 2009
- CDII Trading, a Wholly Owned Subsidiary of China Direct Industries, and China Armco Metals Enter Into Strategic Partnership Agreement for Metals Procurement - Monday August 24, 2009
- China Armco Metals Secures $13 Million Line of Credit From the Bank of China for Its Scrap Metal Recycling Project - Tuesday August 18, 2009
- China Armco Metals Reports Financial Results for the Second Quarter and First Six Months of 2009 - Friday August 14, 2009
- China Armco Metals Secures $12 Million Letter of Credit to Expand Its Distribution Business - Monday August 10, 2009
- CHINA ARMCO METALS, INC. Financials - Saturday June 6, 2009
- China Armco Metals Reports Financial Results for the Full Year of 2008 - Thursday March 26, 2009
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Disclaimer |
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This advertisement is provided by Wall Street Enews, a division of Stock Market Alerts LLC, an electronic broadcaster and publisher of this release, and hereafter referred to as "the company". The company also maintains a contractual, working relationship with Wall Street Capital Funding LLC. and its' Wall Street News Alert brand. For current services performed for China Direct Industries, Inc. ("China Direct Industries") (NasdaqGM: CDII), Sunwin International Neutraceuticals, Inc. (OTCBB: SUWN), Dragon Capital Group Corp (OTC: DRGV), China America Holdings (OTCBB: CAAH), China Armco Metals, Inc. (OTCBB: CNAM) and Dragon International Group Corp. (OTCBB: DRGG), the company has been compensated a total of Three Hundred Thousand Dollars (Two Hundred and Fifty Thousand dollars for current services and Fifty Thousand dollars for previous services) by China Direct Investments Inc., a Florida corporation, and a wholly owned subsidiary of China Direct. The company does not hold any shares of the stock. Because the company received compensation for its services, there is an inherent conflict of interest in the company statements and opinions and such statements and opinions cannot be considered independent.
The information contained in this press release is for informational purposes only, and not to be construed as an offer to sell or solicitation of an offer to buy any security. The company makes no representation or warranty relating to the validity of the facts presented nor does the company represent or warrant that all material facts necessary to make an investment decision are presented above. Stock Market Alerts LLC is an advertising company and therefore, this release should be viewed for informational purposes only.
The company relies exclusively on information gathered on the public company, such as public filings, press releases and its web sites. Investors should use the advertising information contained in this release as a starting point for conducting additional research on the public company in order to allow the investor to form his or her own opinion regarding the public company. Factual statements contained in this publication are made as of the date stated and they are subject to change without notice. The company is not a registered investment adviser, broker or a dealer.
Investing in the public company that this release is providing service for should be reviewed as speculative and a high-risk and may result in the loss of some or all of any investment.
This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements.
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