Downstream Demand Analyst (Metals)

Role Summary 

Build and maintain data-driven end-use demand models across global metals markets, translating sector-level insights into actionable views for trading and investment. 

 

Core Responsibilities 

1. Demand Modelling 

• Develop bottom-up end-use demand models (starting with China, then globally and covering major regional markets) across key sectors (e.g. real estate, transportation, power generation and distribution, infrastructure, data centres / AI, appliances). 

• Conduct intensity analysis and forward demand projections, adjusting for cyclical effects (e.g. demand destruction vs deferral). 

• Track inventories across the value chain using semi-finished and end-use data. 

• Analyse capacity across end-use sectors to consume scrap vs refined metals. 

 

1. Data Integration & Monitoring

• Build scalable data pipelines integrating national statistics, industry data, company disclosures, and alternative data (e.g. shipping, customs, satellite). 

• Generate model outputs programmatically, incorporating real-time and high-frequency macro data. 

• Develop dashboards to present key high-frequency indicators in a clear, actionable format. 

1. Market Analysis & Insights

• Identify market inefficiencies and relative value opportunities across commodities and regions. 

• Perform scenario analysis incorporating macro, policy, and geopolitical factors. 

• Support trading and portfolio positioning with timely, data-driven insights. 

 

Key Requirements 

Experience & Knowledge 

• 5+ years’ experience in metals/commodity research, with strong focus on first-use and end-use demand. 

• Deep understanding of downstream sectors and global metals value chains. 

• Familiarity with scrap markets, trade flows, and industry dynamics. 

Technical Skills 

• Advanced Python programming (model development, data pipelines). 

• Strong SQL proficiency. 

• Experience working with large, multi-source datasets and real-time data systems. 

Other Skills 

• Strong analytical and problem-solving capabilities. 

• Ability to operate in a fast-paced, collaborative environment. 

• Excellent communication skills (written and verbal, English).