SOURCE: Stock Market Alerts

January 06, 2011 12:25 ET

Breaking News Alert: China Armco Metals -- January 6, 2011

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Stock Market Alerts LLC.

MIAMI, FL--(Marketwire - January 6, 2011) -  Stock Market Alerts' performance stock list includes: China Armco Metals, Inc. (NYSE Amex: CNAM), AK Steel (NYSE: AKS), Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) and Newmont Mining Corporation (NYSE: NEM).

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This morning, China Armco Metals, Inc. (NYSE Amex: CNAM) issued a press release announcing that it has received confirmation that local government imposed power restrictions for energy intensive industries and steel producers will be lifted in January 2011. With the announcement, the Company's scrap metal recycling business can return to full operations.

The central government imposed energy restrictions in at least 18 provinces beginning in September 2010 in an effort to meet the energy consumption and emissions targets set by the National 11th Five Year Plan (2006-2010), which significantly impacted output in the steel industry and the operations at China Armco.

"We are pleased to receive news that the power rationing will be phased out," said Mr. Kexuan Yao, the Company's Chairman and Chief Executive Officer. "These restrictions temporarily affected our operations in the third and fourth quarters of 2010, and we are encouraged to be operating on a full time basis. We will now be able to rapidly accelerate our growth in this area of great potential."

China consumes over 500 million tons of steel annually and is the largest in the world. 100 million tons of scrap steel are utilized in this production per year and currently Chinese producers only meet 60% of this demand annually. The Company's recycling operations, which can process up to one million tons of metal scrap per year, is expected to contribute substantially to the company's revenues.

The stock closed yesterday at a $3.79 share

AK Steel (NYSE: AKS) as of 11:45am EST. up 2.9% on 4.1 million shares traded.
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets.

Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) as of 11:45am EST. down 1.4% on 4 million shares traded.
FCX is a leading international mining company with headquarters in Phoenix, Arizona.

Newmont Mining Corporation (NYSE: NEM) as of 11:45am EST. down 1.9% on 4.9 million shares traded.
Newmont Mining Corporation is one of the leading mining companies in the U.S.

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