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| Pacific Steel Group |
Manufacturing Sector Expands for Second Consecutive Month
Economic activity in the U.S. manufacturing sector expanded for the second straight month in February, following 26 months of contraction, according to the latest Manufacturing ISM Report On Business. The Purchasing Managers' Index (PMI) registered 50.3%, a slight decline of 0.6 percentage points from January.
However, the New Orders Index fell back into contraction at 48.6%, down 6.5 percentage points. The Production Index dipped to 50.7%, while the Prices Index surged to 62.4%, reflecting a 7.5 percentage point increase from January.
“U.S. manufacturing activity expanded marginally for the second month in a row. Demand weakened, while output stabilized, and inputs, for the first time in several months, contributed to PMI growth,” said Timothy Fiore, chair of ISM’s Manufacturing Business Survey Committee. “Panelists’ companies experienced the first operational shock of the new administration’s tariff policy. Price growth accelerated due to tariffs, causing new order placement backlogs, supplier delivery stoppages, and manufacturing inventory impacts.”
Fabricated metal products and primary metals were among the 10 industries reporting growth in February, while machinery was among the five industries reporting contraction.
Pacific Steel Group Breaks Ground on California’s First Steel Mill in 50 Years
Pacific Steel Group has begun construction on the Mojave Micro Mill, the first steel mill to be built in California in five decades. Located in Mojave, California, this advanced manufacturing and recycling facility will produce rebar steel crucial for infrastructure and climate resilience. The mill is expected to have an annual production capacity of 380,000 tons of steel and is slated to begin operations by 2027.
“This is a very exciting day for our company. It represents a culmination of nearly five years of work and is the first tangible step toward full vertical integration of our reinforcing steel operations,” said Pacific Steel Group CEO Eric Benson. “I could not be more proud of the team that we have assembled. Their collective efforts in achieving this milestone is truly an extraordinary accomplishment.”
The Mojave Micro Mill is designed to revolutionize steelmaking with first-of-its-kind zero-carbon emissions technology. The 174-acre facility will allocate approximately 63 acres for on-site renewable energy. It will set new industry standards for emissions reduction by incorporating a carbon capture system, secondary high-efficiency filtration, and NOx emissions mitigation.
“Pacific Steel Group’s Mojave Micro Mill highlights the California way to green manufacturing. This project is setting the standard for the steel industry by utilizing on-site renewable energy to produce green rebar with a significantly lower carbon footprint,” said California Air Resources Board Chair Liane Randolph.
Founded in 2014 by industry veterans, Pacific Steel Group is a leading independent rebar steel fabricator and placer with offices across the Western United States. The company supplies concrete reinforcing steel bars, pre-assembled rebar cages, and post-tension cables for residential, commercial, and industrial construction projects.
