China Armco net loss surges as shipments dive
Nov 16, 2011 | 02:23 PM
| Michael Marley
Tags
ferrous scrap,
iron ore,
China Armco Metals,
Michael Marley
PHILADELPHIA — A steep decline in ferrous scrap and iron ore shipments led China Armco Metals Inc. to more than double its net loss during the third quarter as revenue slid 13.8 percent.
The company posted a net loss of nearly $1.1 million on sales of $16.1 million for the three months ended Sept. 30.
San Mateo, Calif.-based China Armco, which operates scrapyards in China and trades scrap and iron, said it sold 16,592 tonnes of scrap metal in the third quarter, down 65.2 percent from 47,662 tonnes in the second quarter of this year.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here