China Armco Metals, Inc., a Shanghai, China-based metal ore distributor and metal recycling subsidiary of Armco Metals, Inc. announced Wednesday that it has delivered its first shipment of iron ore from Brazil-based steelmaker Mineracao Usiminas S.A. (Usiminas).
The conclusion of the shipment, which contained 150,000 metric tons of iron ore valued at $19.8 million, marks the start of an agreement between China Armco and Usiminas in which China Armco becomes the first company to work with Usiminas to export its iron ore to China.