Job Description

Hartree Partners is seeking an experienced Equity Analyst to lead global coverage across the Industrial Cyclicals value chain with emphasis on Basic Materials (Pulp, Paper, Chemicals, Uranium). The role spans upstream equipment and process suppliers through downstream converters and end-users. You will convert granular commodity balances and cost curves into high-conviction, tradeable equity and derivatives recommendations.


The analyst will generate high-conviction investment ideas; conduct company- and commodity-level analysis; develop primary-research insights through regular interactions with industry participants and corporate stakeholders. A core expectation is the translation of detailed supply/demand balances and cost curves into clear, tradable equity and derivatives recommendations. This is a fundamental research role; coding is required to support data handling and model maintenance.

Key Responsibilities & Duties

Conduct fundamental equity research across the Industrial Cyclicals sectors -- including Pulp, Paper, and other materials Assess investment opportunities in commodity futures/options for related materials such as Soda Ash, Methanol, BHKP and NBSK, linking positions to supply/demand and cost-curve analysis Present high-quality pitch decks and investment recommendations to senior stakeholders Build and maintain relations with industry participants, including management teams, sell-side analysts and other external consultants Maintain our internal PnL tracking system, liaise with Middle and Back Office to identify and solve breaks across our ETRMs Use Python or VBA to clean data, build and refresh models when it improves the research process

Requirements: education, competencies & skills

Master's degree in STEM subjects - preference for Math, Physics or Data Science Minimum 4 years of relevant experience in equity research or investment banking, ideally in commodities, mining, or industrial technology sectors Demonstrated expertise in:
o Financial modelling, accounting, and valuation methods


o Supply/demand modelling and cost curve analysis


o Detailed understanding of the production process across related commodity products


Familiarity with Python and VBA to support research workflows (data cleaning, model refresh, general automation) Proficiency in Mandarin and English both written and spoken required to conduct cross-border research, engage diverse stakeholders, and deliver globally relevant insights Strong communication and presentation skills with the ability to distil complex ideas into clear, actionable insights Familiarity with ETRMs: Enfusion, Allegro, Epsilon and Tempest

Preferred Requirements

Experience integrating commodity fundamentals with equity analysis to develop cross-asset investment views * Knowledge of both regional and global capital markets, with the ability to connect local market developments to broader international investment themes