(MENAFN) The British manufacturing sector is currently in recession, agonizing from the oil price plunge and strong pound, thus steel makers are on their knees.
More on the matter, many firms have been complaining that they've witnessed a marked decline since April and almost all of that can be pinned to the oil price.
An executive at one of the local steel-makers said "Oil is below USD50. It needs to be back above USD80 for another six months before any confidence returns."
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