# Copper upstages iron ore’s influence on the Australian dollar

> Copper prices rose to an 11-month high after Chinese smelters agreed to production cuts in response to a plunge in processing fees. Copper has become a stronger driver of the Australian dollar than iron ore, as it is seen as a signal of Chinese economic growth.

- Date: 2024-03-17 · published 2024-03-17T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/31461-copper-upstages-iron-ore-s-influence-on-the-australian-dollar
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Copper strength reflects expectations of Chinese industrial demand and supply tightness, which can support the Australian dollar. The link to grain and feed markets is indirect.

## Sources

- afr.com: https://www.afr.com/markets/currencies/copper-upstages-iron-ore-s-influence-on-the-australian-dollar-20240314-p5fcdp

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.