PIX Methodologies & Policies

COVERAGE NOTE: Open consultation on FOEX annual methodology review and proposed schedule change for the PIX Pulp China Indices – Final Decision

HELSINKI, July 17, 2020 (PIX Pulp and Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between June 5^th and July 3^rd, 2020 on the pricing methodologies for its PIX Pulp China indices. The consultation was done as part of our previously announced annual methodology review process. We also requested feedback on a proposal to change the publishing schedule from Tuesday to Friday in order to provide the market with a more timely index.

Fastmarkets FOEX would like to thank those who took the time to respond to the consultation. We received only a few comments from the market during the consultation period, but many stakeholders were supportive of the proposed schedule change in earlier discussions. Comments and suggestions touched upon the reasons for the proposed schedule change of publishing from Tuesdays to Fridays, and we received one disapproving comment for the change. Other comments suggested technical development in the solutions for gathering price data and for distributing the PIX Pulp China indices. Based on the feedback, Fastmarkets FOEX has decided to go ahead with the schedule change.

The schedule change of the publishing date of PIX Pulp China indices as of September 4, 2020 will not lead to material changes in the current methodology. The change will at its best improve and shorten the time window from collecting price data to publishing the indices. An updated methodology document will be posted on foex.fi shortly.

For all Fastmarkets FOEX coverage notes and to view Fastmarkets FOEX methodology guides please see here.

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Final Decision

HELSINKI, June 17, 2020 (PIX Bioenergy and Wood Indices) – Fastmarkets FOEX invited feedback from the industry on the pricing methodologies for its PIX Forest Biomass Finland price indices, as part of its newly announced annual methodology review process.

As part of this open consultation, to expand the coverage on the Finnish bioenergy sector, Fastmarkets FOEX proposed additions to its PIX Forest Biomass Finland index and its sub-indices. Most of the comments agreed on the suggested regions and the new sub-index for logging residues. There were some comments about small adjustments on the region division as well as generally regarding the indices.

As the feedback was generally positive, Fastmarkets FOEX will go forward with the plan and the following additions will be made for PIX Bioenergy and Wood Indices:

• Regional indices to PIX Forest Biomass Finland Index and selected ones of its sub-indices (forest chips, sawdust, bark) will be added. The final selection of the sub-indices will be based on test data collected during the coming months.
• A separate official sub-index for logging residues will be published, and possibly, based on the test data, also regional indices for this sub-index
• Based on the feedback during the consultation and comments from the price data contributors, Fastmarkets FOEX decides the regional division to go along the line from Vaasa to Imatra dividing Finland in two (west/south and east/north)

The changes are planned to take effect starting in October 2020 (based on August data).

For comments and queries, please email hello.foex@fastmarkets.com, indicating “PIX Forest Biomass Finland” in the subject line of the email in English, Finnish or Swedish.