In its weekly estimate of performance and market wrap, Tribeca Global Natural Resources Limited (ASX Code: TGF) made the following estimated return as at 27 December 2019:
Market is in speculation that if China can achieve the $200 billion of purchases goal (touted by the US), amidst the fears that making specific agricultural pledges could be considered managed trade and would risk a violation of WTO rules.
Crude made solid gains, rallying to highest level since September, driven by a more optimistic outlook on US-China trade and improving global demand.
Beijing laid out its plans to try and boost its economy and to investment in ¥90 billion in civil aviation, ¥800 billion in railway, ¥1.8 trillion in highway and waterway and in 2020.
Copper prices witnessed sixth consecutive weekly increase, compelling the largest producers in China to lower output as margins decline.
Natural gas prices declined sharply (the largest weekly decline in a month) despite large inventory declines as the market remains fixated on the prospect of record production outweighing demand.