PIX Methodologies & Policies

PRICING NOTICE: Correction in PIX Pellet Nordic Index Letter on July 19, 2022

Helsinki, July 19, 2022 (Fastmarkets FOEX) – Due to a clerical error, the month-on-month change in the SEK value of the PIX Pellet Nordic Index appeared incorrectly in the PIX Pellet Nordic Index Letter for about 15 minutes after publishing on July 19, 2022.

The correct month-on-month change is 8.50 SEK/MWh.

This did not impact the index values published on the foex.fi website and the Fastmarkets RISI portal and mobile app or the PIX Bioenergy & Wood Service (email).

We apologize for the inconvenience caused.

PRICING NOTICE: Discontinuing the PIX US NBSK Net Change index – Notice of Implementation

HELSINKI, July 13, 2022 (PIX Pulp and Paper indices) – As previously announced and following consultation, Fastmarkets FOEX has implemented the following changes to its PIX US NBSK Net Change index:

- Discontinued this index on July 13, 2022.

For comments and queries, please email hello.foex@fastmarkets.com, indicating “PIX US NBSK Net Change” in the subject line of the email.

More information available here.

PRICING NOTICE: Annual Review of PIX Pulp China Indices Methodology – Final Decision

HELSINKI, July 1, 2022 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between May 20 and June 17, 2022, on the pricing methodology for its PIX Pulp China price 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 of our current methodology.

To summarize, this open consultation does not lead to material changes in the current methodology. A newly dated methodology document will be updated shortly.

PRICING NOTICE: Discontinuing the PIX US Newsprint index – Notice of Implementation

HELSINKI, June 29, 2022 (PIX Pulp and Paper indices) – As previously announced and following consultation, Fastmarkets FOEX has implemented the following changes to its PIX US Newsprint 27.65lb index:

- Discontinued this index on June 29, 2022.

For comments and queries, please email hello.foex@fastmarkets.com, indicating “PIX US Newsprint” in the subject line of the email.

More information available here.

PRICING NOTICE: Delay in publishing PIX Pulp China Indices today

HELSINKI, June 17, 2022 (PIX Pulp and Paper indices) - There is unfortunately a delay in publishing the PIX Pulp China values today due to a technical reason.

The values of June 17, 2022 are as follows:

PIX Pulp China BHKP Net: USD 844.18 (+8.96)
PIX Pulp China NBSK Net: USD 987.26 (-0.41)

PIX Pulp China Letter is online with the correct values. PIX indices can also be found on Fastmarkets RISI portal.

PRICING NOTICE: Annual Review of PIX Forest Biomass Finland Indices Methodology – Final Decision

HELSINKI, June 14, 2022 (PIX Bioenergy and Wood Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between May 13and June 10, 2022, 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.

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

PRICING NOTICE: Annual Review of PIX Packaging Price Indices Methodology – Final Decision

HELSINKI, May 30, 2022 (PIX Pulp and Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between April 27 and May 25, 2022, on the pricing methodology for its PIX Packaging price 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 has been posted on foex.fi.

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

HELSINKI, May 20, 2022 (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 20 until June 17, 2022, 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 no changes to the current index methodology or specifications.

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 review 2022”.

We treat feedback as confidential. We share responses with the industry at the end of the consultation without attributing them in any way so as to protect the identity of respondents. Please specify whether your response is anonymous, in which case we will not share it in any form.

Fastmarkets will publish the outcome of this methodology review by July 1, 2022, 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.

PRICING NOTICE: Annual Review of PIX Forest Biomass Finland Indices Methodology – Open Consultation

HELSINKI, May 13, 2022 (PIX Bioenergy and Wood Indices) – Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Forest Biomass Finland price indices, as part of its annual methodology review process. 

This consultation, which is open until June 10, 2022, 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 no changes to the current index methodology or specifications.

Please find the current methodology for the FOEX PIX Forest Biomass Finland 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 Forest Biomass Finland review 2022”.

We treat feedback as confidential. We share responses with the industry at the end of the consultation without attributing them in any way so as to protect the identity of respondents. Please specify whether your response is anonymous, in which case we will not share it in any form.

Fastmarkets will publish the outcome of this methodology review by June 23, 2022, on Fastmarkets FOEX website under Pricing Notices, including a summary of the feedback. 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.

PRICING NOTICE: Annual Review of PIX Packaging Europe Indices Methodology – Open Consultation

HELSINKI, April 27, 2022 (PIX Pulp and Paper indices) – Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Packaging Europe price indices, as part of its annual methodology review process. 

This consultation, which is open until May 25, 2022, 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 no changes to the current index methodology or specifications.

Please find the current methodology for the FOEX PIX Packaging Europe price indices here.

Please send responses in writing, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com, with the respective subject heading "PIX Packaging review 2022”.

We treat feedback as confidential. We share responses with the industry at the end of the consultation without attributing them in any way so as to protect the identity of respondents. Please specify whether your response is anonymous, in which case we will not share it in any form.

Fastmarkets will publish the outcome of this methodology review by June 8, 2022, on the Fastmarkets FOEX website under Pricing Notices, including a summary of the feedback. 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.

PRICING NOTICE: Annual Review of PIX Paper Price Indices Methodology – Final Decision

HELSINKI, April 20, 2022 (PIX Pulp and Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between March 16 and April 13, 2022, on the pricing methodology for its PIX Paper 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 has been posted on foex.fi. 

PRICING NOTICE: Annual Review of PIX Recovered Paper Indices Methodology – Final Decision 

HELSINKI, March 23, 2022 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between February 22 and March 22, 2022, on the pricing methodology for its PIX Recovered Paper price indices. The consultation was done as part of our annual methodology review process.

As part of the consultation, Fastmarkets FOEX proposed the following change to the index methodology: Transactions with prices fixed in advance for a longer period than three months do not count as eligible transactions and shall not be reported to the index. The feedback received was largely supportive to this change. Our survey among the data contributors confirmed that contracts including any fixed prices are not significant. We would like to thank those who took the time to respond to the consultation.

To summarize, we have decided to exclude prices fixed in advance for a longer period than three months. This is not a material change to the current methodology. A newly dated methodology document has been posted on foex.fi

PRICING NOTICE: Annual review on FOEX methodology for PIX European Pulp Price Indices – Final Decision

HELSINKI, March 14, 2022 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between Feb. 1 and 28, 2022 on the pricing methodology for its PIX European Pulp indices. The consultation was done as part of our annual methodology review process.

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. Comments and suggestions included statements of supporting the current methodology. Other feedback pondered about the relevance of gross price indices and timing for publishing in the week. One comment regarded the role of spot prices, which are not included in the gross price indices concerned. The current methodology includes price reporting rules which cover the basic definitions for the prices to be observed and Fastmarkets FOEX deems the methodology sufficient in its wording.

To summarize, this open consultation does not lead to material changes in the current methodology. A newly dated methodology document will be posted on foex.fi shortly.

PRICING NOTICE: Annual Review of PIX Sawn Softwood Timber Finland Indices - Final Decision

HELSINKI, February 14, 2022 (PIX Bioenergy and Wood Indices) - Fastmarkets FOEX invited feedback from the industry on the pricing methodology for its PIX Sawn Softwood Timber FAS Finland price indices via an open consultation process between January 14 and February 11, 2022, as part of its annual methodology review process. Fastmarkets FOEX proposed no changes to the current index methodology or specifications. This consultation was done as part of our published annual methodology review process.

There was feedback received during the consultation period asking for prices from buyers of sawn softwood to be included in the calculation in addition to data from sellers. These indices are currently calculated based on price data provided by companies producing and exporting sawn softwood. Fastmarkets FOEX welcomes data contributions from buyers, as long as they comply with the current methodology and specifications. Fastmarkets FOEX would like to thank for the feedback, and we will continue to pursue the inclusion of buyer data. As this is already stated in the methodology, no changes will be made to that document at this stage.

This consultation sought 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.

A newly dated methodology document is now available here.