Armco Metals +63% on steel scrap deal with Mitsui

|About: Armco Metals Holdings, Inc. (AMCO)|By:, SA News Editor

Armco Metals (AMCO +63.8%) pops more than 60% at the open on news that its Renewable Metals subsidiary has reached a steel scrap supply agreement with Mitsui.

AMCO will serve as Mitsui Shanghai's vendor for sourcing, processing and supplying scrap metals, and Mistui will advance payment for the joint purchase of raw materials and complete final purchase of the steel scrap upon completion of processing services.