Armco
Metals is a 10-year old company operating through five subsidiaries that
position the company as a leading player in the sourcing, importing, processing
and distribution of quality recycled scrap steel and metal and non-ferrous
metal ore in China. Aligned with government initiatives to develop sustainable
and environmentally responsible steel, Armco Metals aims to become the largest
recycled scrap steel provider in China.
Industry
reports show that China is on track to set a record in steel production despite
an expected global lag in demand. The World Steel Association (WSA) projects
global demand to rise 3.1% in 2014, down from growth of 3.6% last year, before
slightly increasing to 3.3% growth in 2015. Armco is positioned to ride-out the
lull by focusing specifically on the scrap steel niche, benefitting from
government pushes to increase recycled steel consumption to 20% by 2015 as well
as the increasing steel demand from developed countries such as the U.S. and
Europe, as forecast by the WSA.
In a
recent company announcement, Kexuan Yao, chairman and CEO of Armco, referenced
the current steel landscape and the company’s strategy to take advantage of the
situation, saying “We continue to see progress at our Renewable Metals
subsidiary as we work to position our Company for the future. Our efforts have
resulted in this important inclusion in the list of approved operators that we
believe will pay big dividends down the road as the Government looks to
increase industrial efficiency while reducing pollution. China’s scrap industry
has been slow to develop due to many producers opting to use less costly and
more pollutive production methods. As the government implements these new
initiatives, we see steel producers moving to models that more closely resemble
that of the U.S. and Europe which should lead to significant need for scrap
steel produced by the small circle of companies who are approved by the
government to operate in this industry.”
As Yao
noted above, the company’s efforts in the metal ore market also support
continued company growth. Ores sourced by Armco include iron ore, chrome ore,
nickel ore and manganese ore. The company has established a distribution
network of more than 100 small- and medium-sized steel production companies, as
well as some of the government’s large state-run foundries.
Armco
Metals has well-developed relationships with more than 10 international metal
suppliers in ore-rich countries including Australia, India, South Korea,
Brazil, and the United States, enabling the company to obtain favorable pricing
for our customers, at rates unavailable through direct market importing or spot
markets.
Furthermore,
Armco Metals has established a proven transportation system that utilizes
China’s existing infrastructure, including three deep-sea ports, railway
systems, and highway systems, to improve the time, costs and distance
capabilities necessary to ore distribution.
For more
information, visit www.armcometals.com
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