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Meet the experts helping you navigate metals & mining markets. From supply and demand shifts to asset valuations and energy transition trends, our analysts share the insights shaping strategic decisions across the industry.
Natalie Biggs - Global Head of Thermal Coal Markets

Coal is playing a growing role in energy security as market uncertainty, extreme weather and rising power demand put pressure on global grids. LNG price volatility has improved coal's competitiveness in parts of Asia, while hotter summers, colder winters and expanding AI-driven data centre demand are increasing electricity consumption. At the same time, supply risks, from policy changes in Indonesia to weather-related disruptions in Australia, could have a significant impact on coal market dynamics in the second half of the year.

 
Shashank Sriram - Senior Research Analyst, Aluminium Markets
As AI workloads grow, the key constraint is shifting from servers to power. Meeting rising energy demand will require major investment in generation, storage, transmission and distribution infrastructure, driving demand for copper and aluminium. Copper benefits from its higher electrical intensity, while aluminium supports the networks that deliver power. The long-term metals opportunity lies not just inside data centres, but in the infrastructure needed to power them.
 
Jie Liu - Managing Consultant, Aluminium Value Chain

What's keeping aluminium smelter margins at record highs — and how long can it last? Jie, breaks down the structural forces reshaping the global aluminium market in 2026. From regulatory capacity caps in China to the growing challenge of securing green power outside it, Jie explains why annual smelting capacity growth has stayed below 2% since 2018 — and what that means for prices, margins, and market stability going forward.

 
Sagar Kalra - Senior Analyst, Gold

Gold’s strength is being driven by more than safe-haven demand. Shifting geopolitical and trade dynamics, weakening confidence in the US dollar, and China’s push towards de-dollarisation continue to support prices. At the same time, miners face rising costs, labour and ESG pressures, and declining ore quality, making detailed asset and cost analysis more important than ever. Wood Mackenzie tracks around two-thirds of global gold supply through its Lens platform to help navigate these challenges.

 

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