Breaking News Alert: China Armco Metals -- January 6, 2011
07 1월 2011 - 2:25AM
Marketwired
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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NYSE:FCX NYSE Amex:CNAM NYSE:AKS NYSE:NEM
AK Steel (NYSE:AKS)
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부터 6월(6) 2024 으로 7월(7) 2024
AK Steel (NYSE:AKS)
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부터 7월(7) 2023 으로 7월(7) 2024