SOURCE: Stock Market Alerts

March 23, 2010 08:35 ET

Market Alert: China Armco Metals - March 23, 2010

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

MIAMI, FL--(Marketwire - March 23, 2010) -  Stock Market Alert's performance stock list includes: China Armco Metals, Inc. (OTCBB: CNAM), Alcoa, Inc. (NYSE: AA), United States Steel Corporation (NYSE: X) and Newmont Mining Corporation (NYSE: NEM).

This morning, China Armco Metals, Inc. (OTCBB: CNAM) announced that Armco & Metawise, Ltd. the Company's wholly owned subsidiary, has entered into a contract to purchase 749,000 metric tons of Brazilian manganese ore fines over the next 16 months which could result in sales of up to $180 million over the contract period based on current market prices for manganese ore of this type.

Over 90% of magnesium ore demand is for the production of iron-manganese alloys used in the steel industry. It is also used in the production of non-ferrous alloys with aluminum, magnesium, copper, nickel and zinc. In the production of steel, the presence of the manganese is essential for sulfur control, and, in special steels, for the control of carbon and phosphorus. Manganese ore has been in high demand recently, as the Chinese steel industry has continued to rebound in 2010 with industry forecasts calling for continued growth. 

Commenting on the contract, Mr. Kexuan Yao, CEO and Chairman of China Armco Metals, Inc., stated, "Securing this contract is a significant step forward for our company's metals distribution operation as we move through 2010. With the ability to sell this product into China under favorable terms we have significantly strengthened our overall supply capabilities. Upon successful delivery over the term of the contract, we are in a position to significantly boost our top and bottom line performance for the remainder of 2010 and well into 2011. We look forward to building on our relationships with this and other international suppliers in the coming months as we continue to see a strong environment for industrial metals in China."

The company previously reported that Armet Renewable Resource Company had signed a contract to supply a major Chinese steel producer with up to 230,000 tons of scrap steel in 2010. The contract calls for the delivery of up to 23,000 metric tons of scrap steel per month for 10 months beginning in March of 2010. That press release stated that based on the current spot price of scrap steel, this supply contract is valued at over $100 million.

The stock closed yesterday at $8.25 cents a share.

For an in-depth profile of China Armco Metals, visit

Alcoa, Inc. (NYSE: AA) up 05.% on 31 million shares traded.

Alcoa, Inc. is one of the world leaders in the production and management of primary aluminum, fabricated aluminum and alumina combined, through its active and growing participation in all major aspects of the industry.

United States Steel Corporation (NYSE: X) up 1.8% on 13.6 million shares traded.

United States Steel Corporation is one of the leading steel companies in the U.S.

Newmont Mining Corporation (NYSE: NEM) up 1.2& on 6 million shares traded.

Newmont Mining Corporation is one of the leading mining companies in the U.S.

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 Armco Metals, Inc. (OTCBB: CNAM), China Direct Industries, Inc. ("China Direct Industries"), Dragon Capital Group Corp, China America Holdings, and Dragon International Group Corp., 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.

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