Categories: press Date: Mar 27, 2018 Title: PIX Sawn Softwood Timber FAS Finland
FOEX launches price indices for Finnish sawn softwood timber exports
PIX Sawn Timber Pine FAS Finland and PIX Sawn Timber Spruce FAS Finland indices cover the main sawn timber grades exported from Finland
HELSINKI, March 27, 2018 (Press Release)
FOEX is expanding its price index portfolio with new benchmarks for Finnish sawn softwood timber exports. PIX Sawn Timber Pine FAS Finland and PIX Sawn Timber Spruce FAS Finland indices complement FOEX’s existing suite of indices covering all major parts of the forest products value chain.
Finland is the third largest sawn softwood timber producer in the European Union, with exports exceeding 75% of its total production. In 2017, exports totaled over 9 million cubic meters. The largest export markets for Finnish sawn timber were China, Egypt and Japan while the main European destination was the UK.
The two new timber indices are based on six different sawn timber quality grades, each weighted according to their respective market shares. The indices are published in Euros per cubic meter. The price data on which the indices are based is currently collected from the Finnish export sawmills. As with all PIX indices, buyers’ prices are also considered. The selected grades represent the main export grades of sawn timber. FOEX received valuable support from the Finnish timber industry and the Finnish Sawmills Association in developing these indices, especially when it came to selecting the grades to be covered.
“The sawmill industry has always been an important part of the Finnish economy” says Tytti Inkinen, Director of FOEX. “Our PIX Sawn Softwood indices are designed to help the market follow this development from the pricing point-of-view.”
The service is currently available on a complimentary basis and can be freely accessed on the FOEX website, starting from March 27th, 2018:
About FOEX Indexes Ltd (www.foex.fi)
FOEX is an independent market reference price index provider based in Helsinki, Finland. FOEX produces PIX price indices for the pulp, paper, paperboard, recovered paper, and wood & forest-based bioenergy. FOEX is owned by Euromoney Institutional Investor PLC since 2017 and is part of its Metal Bulletin Group.
For Press Enquiries, please contact:
Mr. Tuomo Neuvonen
Senior Manager, Biomass and Wood Index Products
FOEX Indexes Ltd