What is Fastmarkets FOEX?

Fastmarkets FOEX is a leading Price Reporting Agency providing audited, trademark registered pulp, paper, recovered paper, wood-based bioenergy and timber price indices

Fastmarkets FOEX, Bioenergy and Wood Indices

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Jun 22, 2021

PIX Wood Finland and PIX Sawn Softwood Timber FAS Finland

Jun 16, 2021

PRICING NOTICE: Open consultation on FOEX methodology for PIX Forest Biomass Finland Price Indices – Final Decision

HELSINKI, June 16, 2021 (PIX Bioenergy and Wood Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between May 14 and June 11, 2021 on the pricing methodology for its PIX Forest Biomass Finland indices. The consultation was done as part of our annual methodology review process.

Fastmarkets FOEX would like to thank for the feedback received during the consultation period. It was fully supportive to our current methodology and to the proposal of changing from Statistics Finland’s Fuel classification 2019 to its Fuel Classification 2021, as follows:

  • Class 3112 Chips from roundwood (includes both classes a and b) to Class 21.10.20 (includes both classes 21.10.21 and 21.10.22)
  • Class 3113 Forest residue chips to Class 21.10.30
  • Class 3114 Hog fuel from stumps (previously stump wood chips) to class 21.10.40
  • Class 3121 Bark to Class 21.20.10
  • Class 3122 Saw dust to Class 21.20.20
  • Class 21.10.20 (previously 3112) is still encouraged to be reported separately as pruned or unpruned stem chips.

To summarize, this open consultation does not lead to material changes in the current methodology. A newly dated methodology document with the updated classification is now available on foex.fi.

Jun 4, 2021

PRICING NOTICE: Open consultation on FOEX methodology for PIX Packaging Indices – Final Decision

HELSINKI, June 4, 2021 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between April 28 and May 26, 2021 on the pricing methodology for its PIX European Packaging indices. The consultation was done as part of our annual methodology review process.

Fastmarkets FOEX would like to thank for the feedback received during the consultation period. It was fully supportive to our current methodology.

To summarize, this open consultation does not lead to material changes in the current methodology. A newly dated methodology document is now available on foex.fi.

A newly dated methodology document is now available on foex.fi. For all Fastmarkets FOEX pricing notices and to view Fastmarkets FOEX methodology guides please see here.

Jun 1, 2021

NOREXECO launches China softwood and hardwood pulp futures based on Fastmarkets prices

LONDON, June 1, 2021 (Press Release) – NOREXECO ASA, the international pulp and paper exchange, launched two cash-settled China pulp futures contracts on June 1 based on Fastmarkets’ prices to meet growing demand for hedging in the international pulp market.

The contracts, one for softwood pulp and one for hardwood pulp, are settled against the monthly averages of Fastmarkets RISI’s NBSK CIF China assessment and Fastmarkets FOEX’ PIX China BHKP Net index. These prices reflect trade in the offshore contract market, where imported pulp is sold to traders and end users on a cost, insurance and freight (CIF) basis for delivery to main ports in China.

Pulp futures are designed to help market participants manage their exposure to price risk. NOREXECO already lists contracts for hardwood and softwood pulp delivered to Europe, as well as for recycled paper. These are also settled against Fastmarkets FOEX indices. In addition, NOREXECO has listed a Shanghai Futures Exchange (SHFE) “mirror” contract on NBSK.

“The two new contracts enable anyone with exposure to pulp delivered to China to hedge out unwanted risk,” said Stein O. Larsen, chief executive officer at NOREXECO. “We can also announce that clearing and transaction routes for accessing the international NOREXECO market are opened for both Asian and international traders. We are glad to have with us strong partners like StoneX and Freight Investor Services (FIS) to help bring market participants into the market.”

The market will set daily closing prices and make visible a transparent forward curve available for all market participants.

“These new contracts have real potential to become liquid between now and year’s end given the strong interest we’ve seen from stakeholders,” said Matt Graves, senior vice president at Fastmarkets.

NOREXECO is ensuring that Chinese companies can participate in trade via brokers and clearing houses by providing an easy access route.

For more information about the two new China contracts, please contact:

Stein Ole Larsen | T: +47 97588874 | E: sol@norexeco.com

Anita Skjong | T: +47 41440097 | E: as@norexeco.com | WeChat: ASkjong007

May 21, 2021

PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Pulp China Price Indices

HELSINKI, May 21, 2021 (PIX Pulp and Paper indices) - Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Pulp China price indices, as part of its annual methodology review process.

This consultation, which is open from May 21 until June 18, 2021, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.

Fastmarkets FOEX proposes an adjustment to the current index methodology or specifications in the Timing clause:

from “Timing: Delivery during the current month”

to “Timing: Delivery during the current or following month”.

The change is proposed to better reflect normal delivery times for price data included in the PIX indices. This does not represent a material change to the methodology.

Please find the current methodology for the FOEX PIX Pulp China price indices here.

Please send responses in writing, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com. Please add the respective subject heading "PIX Pulp China annual methodology review”.

Please specify whether your response is confidential. Opinions offered in confidential responses may be referenced but will not be attributed in any way.

Fastmarkets will publish the outcome of this methodology review by July 2, 2021, on Fastmarkets FOEX website under Pricing Notices, including a summary of the feedback with the exception of those marked as confidential. Any proposals to make material changes, discontinue or launch prices will involve a separate market consultation, the length of which will depend on how substantial the change is.

May 14, 2021

PIX Forest Biomass Finland — Breakdown by grade and region available

Fastmarkets FOEX publishes alongside its PIX Forest Biomass main index also sub-indices dividing the data by grade and region.

The following data is available through a PIX Biomass Service subscription:

  • PIX Forest Biomass Finland main index (all Finland, South/West and North/East)
  • PIX Forest Biomass Finland forest chips sub-index (all Finland, South/West and North/East)
  • PIX Forest Biomass Finland by-product sawdust sub-index (all Finland, South/West and North/East)
  • PIX Forest Biomass Finland bark sub-index (all Finland, South/West and North/East)
If you would like to see a sample of the PIX Forest Biomass Finland letter and the data included, please click here.
Apr 26, 2021

PRICING NOTICE: Changes to PIX Wood Finland Indices – Consultation

Helsinki, April 26, 2021 (PIX Bioenergy and Wood Indices) – Fastmarkets FOEX is unifying its methodology and policies for all PIX indices to comply with Fastmarkets’ internal guidelines and the IOSCO principles for Price Reporting Agencies (PRAs). Along with this development, some index collection criteria do not fully fulfil these policy requirements.

Fastmarkets FOEX is considering the following changes to its PIX Wood Finland indices:

- Discontinue PIX Sawlogs Finland on Dec 29, 2021.

- Discontinue PIX Pulpwood Finland on Dec 29, 2021.

- Discontinue PIX Birchlogs Finland on Dec 29, 2021.

The main rationale for this change is that PIX Wood Finland indices include data delivered by 3rd parties and cannot be linked to individual companies.

Fastmarkets FOEX hereby opens a market consultation on this proposal, with the potential that the last indices will be published on Tuesday, December 28, 2021. The consultation is open until June 30, 2021 and Fastmarkets FOEX will publish the outcome by July 14, 2021, on Fastmarkets FOEX website under Pricing Notices.

For comments and queries, please email pricing.foex@fastmarkets.com, by June 30, 2021, indicating “PIX Wood Finland Indices” in the subject line of the email.

Apr 15, 2021

Fastmarkets successfully completes second IOSCO assurance review for its FOEX PIX pulp and paper pricing division

Mar 16, 2021

Fastmarkets becomes BMR-regulated PRA, strengthening its already robust pricing methodologies

Please see our press release here.