Posted in | News | Ferrous Alloys and Metals | Business

China Armco Metals, Mineracao Usiminas Ink Iron Ore Supply Deal

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Supplier of imported metal ore, China Armco Metals proclaimed that it has supplied its first consignment of 150,000 metric tons of iron ore worth $19.8 million from Mineracao Usiminas, a Brazil-based steel manufacturer.

China Armco Metals is a major metal recycler and has a modern metal recycling plant in China.

As per the supply agreement, China Armco Metals will deliver 9.5 million metric tons of steel annually and is the first company to help Mineracao Usiminas to supply its iron ore to China. The first shipment paves the way for a long-term affiliation between the two firms. Both companies concluded the distribution deal in Brazil.

The Chairman and Chief Executive Office of China Armco Metals, Kexuan Yao expressed his happiness about the distribution agreement with Mineracao Usiminas. He said that Mineracao Usiminas plans to supply 3 million metric tons of iron ore in 2011 and approximately 20 million metric tons of iron ore in 2012 to China. China Armco Metals’ strategic partnership with Mineracao Usiminas would increase its profit and strengthen its metal distribution footprint in China.

Source:

http://www.armcometals.com

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