Dr Ralph Grimble

Dr Ralph Grimble

Principal Market Analyst: Commodities & Financial Markets; Member of the Executive Committee

BA (Hons), MA (Oxon), DPhil Materials Science

Ralph is responsible for macroeconomic and investment analysis for all of SFA’s market intelligence assignments and forecasts metal prices. He leads the team to deliver timely analysis for the World Platinum Investment Council, which involves presenting the only quarterly data available to the market. 

Ralph has also been responsible for a major gold cost study covering the production and peer-group rankings of over 340 operations worldwide, updated annually and has been the author of SFA's Monthly Commodity Report which charts the price, supply, stocks and demand movements of nine key commodities across base and precious metals and oil. 

Prior to joining SFA (Oxford), Ralph completed his undergraduate and postgraduate studies at Oxford in chemistry and materials science. He is an experienced analyst with a background in science research at the University of Oxford, as well as experience in logistics markets and business environment analysis.

Key Assignments

  • Analyses the financial and macroeconomic environment to highlight implications and risks to commodities and end uses for SFA's short and long-term market reports
  • Compiles and analyses all investment data related to precious metals
  • Manages compilation and delivery of WPIC quarterly reports and data
  • Runs SFA's Bloomberg terminal and offers technical analysis on metal prices and currencies
  • Key author and analyst on SFA's groundbreaking 'Join the dots between metal flows and price setting report' 
  • Author of SFA’s monthly multi-commodity report, researching and writing content for macroeconomic, gold and silver, oil, and base metals sections
  • Researched and compiled detailed production and cost data, as well as general operational data and production forecasts, on over 340 gold mines and projects for the Brook Hunt Gold Cost Study


  • BA (Hons), MA (Oxon) Chemistry, Trinity College, University of Oxford 
  • DPhil Materials Science, Linacre College, University of Oxford

Back to The Team

The Team

Stephen A. Forrest
Chairman, Principal Consultant & Engineer; Chairman of the Executive Committee

Beresford Clarke
Managing Director & Head of Research; Member of the Executive Committee

David Mobbs
Head of Marketing; Member of the Executive Committee

Dr Jenny Watts
Principal Analyst: Automotive Demand & Technology; Member of the Executive Committee

Samantha Trickey
Principal Analyst: Supply, Geology & Mining; Member of the Executive Committee

Dr Ralph Grimble
Principal Market Analyst: Commodities & Financial Markets; Member of the Executive Committee

Jamie Underwood
Senior Strategy Analyst: Project Consulting

Oksan Atilan
Consulting Market Analyst: Automotive Demand

Wenlin (Karen) He
Consulting Market Analyst: China

Thomas Chandler
Strategy Analyst: Project Consulting

Alex Biddle
Mining Analyst

John Miles
Associate Consultant

Elaine Forrest
Executive Company Secretary; Secretary of the Executive Committee

Andy Smith
Independent; Member of the Executive Committee

Jeremy Coombes
Independent; Member of the Executive Committee