Armco reaches scrap supply deal with Mitsui

Mar 05, 2014 | 01:32 PM | Rey Mashayekhi

Tags  steel scrap, Armco Metals Holdings, Mitsui & Co., Kexuan Yao, scrap supply agreement, Rey Mashayekhi

NEW YORK — Armco Metals Holdings Inc. has reached a long-term steel scrap supply deal with Mitsui & Co. (Shanghai) Ltd., the metals recycler said in a statement March 5.

Under the terms of the agreement, Armco Metals subsidiary Armco (Lianyungang) Renewable Metals Inc. will serve as Mitsui Shanghai’s vendor “for sourcing, processing and supplying scrap metals.” In return, Mitsui has agreed to “advance payment....

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