I think you would need some sort of airspace between the metal and wood or cooling fins or something like that. The heat transfer is likely to carbonize the wood in contact with the metal ring and likely catch fire one day. What about sparks, there will be burn marks all over the table from sparks that likely won't set the table on fire but will certainly mar the finish. Perhaps some sort of stone buffer or concrete like they make counter tops with, at that point though I would lean toward making the whole top that way.