Commodity Analyst

AAA Global; City of Westminster; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading financial services firm in the City of Westminster is seeking a Fundamental Commodity Researcher to drive insights in energy, metals, and agricultural markets. The ideal candidate will have over 3 years of experience and strong skills in Python and SQL. Responsibilities include designing supply-demand models and developing trading signals. This role offers extensive resources and support in a collaborative environment, perfect for those who enjoy building frameworks from scratch.

Qualifications

• 3+ years of experience in fundamental commodity research or supply-demand modelling.
• Deep knowledge of at least one major commodity sector.
• Strong programming skills in Python and SQL.

Responsibilities

• Generate alpha by understanding global energy, metals, and agricultural markets.
• Design and maintain Python/SQL-based supply and demand models.
• Develop systematic fair-value trading signals.

Skills

Fundamental commodity research

Python programming

SQL proficiency

Regression techniques

Time-series modelling

Job description

We are seeking a Fundamental Commodity Researcher to generate alpha and strengthen our understanding of global energy, metals, and agricultural markets. You will design and maintain Python/SQL-based supply and demand models, develop systematic fair-value trading signals, and collaborate with quantitative researchers to integrate these insights into a live portfolio construction process.

• Are energized by greenfield opportunities and building new frameworks from scratch
• Maintain a steep learning trajectory and enjoy working across diverse markets
• Combine attention to detail with an ability to deliver scalable, high-impact results, Build and maintain supply-demand balances across liquid energy, metals, and agricultural commodities
• Develop fair-value pricing models based on balances and related inputs
• Design and backtest systematic trading strategies informed by fair-value and balance data
• Enhance base balances using improved forecasting techniques and novel datasets
• Support portfolio-level hedging and positioning with a fundamental perspective

Resources & Support

• Budget for third-party datasets, vendors, and external balance data to accelerate buildout
• A centralized data lakehouse and established data infrastructure
• Quant researchers to assist with signal design and modelling
• A quant developer to support large-scale technical builds
• Shared support for data onboarding, cleaning, and maintenance

• 3+ years of experience in fundamental commodity research or supply-demand modelling at a hedge fund, bank, prop shop, or major physical merchant
• Deep knowledge of at least one major commodity sector (e.g., crude & products, base metals, grains)
• Strong programming skills in Python and SQL
• Proficiency in regression and time-series modelling techniques
• Proven ability to convert domain expertise into P&L-generating trade ideas

Preferred / Bonus

• Experience collaborating with quantitative teams (e.g., feature engineering, model validation)
• Prior discretion over risk or advisory role to a trading book