La Libra, Facebook's digital currency, announced for 2021 in reduced format

The launch of Facebook's digital currency, Libra , could take place in 2021. The project may benefit from favorable factors in the global economy, but regulators will have to be convinced first.  Facebook could launch Libra, its digital currency in 2021, we learn from the British media Financial Times, which quotes people close to the process. The product is expected to arrive in a limited version, after the project has met with great aversion from regulators, including in the United States, the country where the headquarters of the social media management company are located. The stakeholder association behind this digital currency project is now planning to launch a single version of Libra that will itself be pegged to the dollar, at the rate of one unit of US currency for each Facebook digital currency . “The other forms of currencies will be deployed at a later stage,” the FT source added. The exact launch date will depend on when the project

Coronavirus: falling iron prices in a context of declining demand

Iron prices have already fallen 10% this year, trading at $ 84 per tonne in world markets on Wednesday. According to analyzes by BMO Capital and Morgan Stanley relayed by Reuters, this downward trend should continue until the end of the year with an average price between 75 and 78 $ per ton, mainly due to the effects of the pandemic from Covid-19.

Coronavirus: falling iron prices in a context of declining demand

The slowdown in global economic activity, including a drop in demand in the construction sector, has forced the largest foundries to suspend their activities. At the same time, mining production remained stable apart from a few disturbances in Australia and Brazil, the world's largest and second largest producers respectively, which led to a glut in the market.




Note that if the situation is not yet dramatic because of the steel production levels in China (decrease of 1.7% against 20% in the EU and 10% in Japan), an increase in mining production would be detrimental to the price of metal. The resumption of economic activity in China and around the world therefore remains the best source of hope for the sector.