Breaking News: China Armco Metals - August 10, 2009

MIAMI, FL--(Marketwire - August 10, 2009) - Stock Market Alert's performance stock list includes: China Armco Metals, Inc. CNAM, JPMorgan Chase & Co. JPM, United States Steel Corporation X and Apple, Inc. AAPL.

Breaking News: China Armco Metals, Inc. CNAM Secures $12 Million Letter of Credit to Expand Its Distribution Business. The company, a distributor of imported metal ore with plans to launch a new state of the art scrap metal recycling facility in China, issued a press release this morning announcing that it received a Back to Back secured Letter of Credit from DBS Bank Ltd. ("DBS") on April 22, 2009 for up to $12 million to be used to finance purchases of various metal ores. DBS was established in 1968 as the development bank of Singapore. DBS is one of the largest financial services groups in Asia, and its "AA-" and "Aa1" credit ratings are among the highest in the Asia-Pacific region. The bank has also been a key partner in financing the growth of small and medium-sized enterprises and in Hong Kong DBS is the industry leader in equipment and trade finance.

Kexuan Yao, Chairman and CEO of China Armco Metals, Inc., commented, "We are extremely pleased to have secured this $12 million credit facility. We see continued evidence that the Chinese economy is on the road to recovery and there has been an increasing demand for commodities coupled with a rising price environment. We believe this additional financial flexibility will enable us to opportunistically grow our distribution business and significantly improve our overall operating results."

The stock closed yesterday at Eighty Five cents a share.

For an in-depth profile of China Armco Metals, visit http://www.wallstreetenews.com/view-company-profiles.php?profile=CNAM_080909.

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JPMorgan Chase & Co. JPM up 3.9% on 65.7 million shares traded.

JPMorgan Chase & Co. is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries.

United States Steel Corporation X up 3.5% on 16.5 million shares traded.

United States Steel Corporation is one of the leading steel company's in the U.S.

Apple, Inc. AAPL up 0.9% on 13.8 million shares traded.

Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh.

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