Commodities Analyst

LKQ•Nashville, TN

About The Position

Join the LKQ Family! We're looking for motivated individuals to join our team at LKQ Corporation. With opportunities for growth, competitive benefits, and a supportive work environment, LKQ is the place to be. Apply now and take the first step toward a rewarding career! The Commodities Analyst position at Pick Your Part is responsible for monitoring and analyzing the scrap metal market to optimize pricing, manage risk, and forecast revenue. This involves tracking global market trends, supply and demand, and geopolitical factors affecting scrap metal prices for materials like steel, aluminum, copper, and others. The analyst's work directly impacts the company's profitability by ensuring competitive pricing for the materials it buys and sells. The Commodities Analyst plays a vital role in managing the salvage company's commodity portfolio. This position requires strong analytical skills to monitor global and domestic markets, track commodity prices, and provide strategic recommendations to management on buying and selling scrap materials. The analyst will use market intelligence to maximize profit margins and manage inventory.

Requirements

Bachelor’s degree in Economics, Statistics, Finance, or a related field is often required.
Proven experience in financial analysis, forecasting, and data interpretation, preferably within the commodities or recycling industry.
Proficiency in data analysis tools, including Microsoft Excel and statistical software like Project R, is highly valued.
Strong understanding of commodity markets and the factors influencing scrap metal prices.
Excellent analytical, problem-solving, and decision-making skills.
Strong communication and relationship management skills to work effectively with suppliers, customers, and internal teams.

Responsibilities

Market Analysis and Forecasting : Monitor daily scrap metal market trends, global supply and demand, and economic conditions that influence prices.
Use statistical analysis and forecasting models to predict price fluctuations and market trends.
Track the prices of key commodities like ferrous and non-ferrous metals to determine optimal pricing strategies.
Pricing and Strategy : Develop and update daily price sheets for scrap materials purchased and sold at the salvage yard.
Collaborate with the purchasing and sales teams to implement strategies that optimize input costs and maximize sales revenue.
Provide market insights to senior management to guide strategic decision-making.
Risk Management : Analyze potential risks associated with market volatility and geopolitical events.
Provide analysis to help the company determine when to buy, sell, or hold inventory based on market conditions.
Reporting and Communication : Generate regular reports on market trends, commodity prices, and financial performance.
Communicate market changes and pricing strategies to relevant stakeholders, including yard managers, procurement, and sales teams.
Data and Systems Management : Utilize spreadsheets, databases, and market intelligence software to organize and analyze data.
Maintain accurate records of all commodity transactions and market information.
Business Intelligence & Analytics Develop, deploy, and maintain scalable and interactive Excel and Power BI dashboards and reports to track key performance indicators (KPIs) and visualize commodity market trends.
Convert raw data sets from multiple sources into insightful, actionable information by developing and automating reports and dashboards in Power BI and Excel.
Develop and maintain analytical tools (e.g., pricing models) for total cost of ownership (TCO) and price optimization opportunities.
Present analysis to internal and external audiences at all organizational levels in a user-friendly, intelligent way.