PIX Methodologies & Policies

PRICING NOTICE: Changes to Fastmarkets FOEX PIX US Pulp coverage - Open consultation

HELSINKI, December 1, 2021 (PIX Pulp and Paper indices) - Fastmarkets FOEX is inviting feedback from the industry on the proposal to launch a new Net index for the North American market, and to discontinue two existing PIX US NBSK pulp indices.

This consultation, which is open until January 14, 2022, seeks to ensure that our proposal is handled 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 requests your comments and opinion (support/not support) on the following possible actions:

a) developing a monthly NET index for PIX US NBSK pulp in the format (e.g.) 900 USD/metric ton.

b) discontinuing the current PIX US NBSK (gross) and PIX US NBSK Net Change indices by June 30, 2022.

Please send responses and comments in writing on each point a) and b) and other possible comments, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com. Please add the subject heading "PIX US Pulp indices 2022”.

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 open consultation by January 28, 2022, on the Fastmarkets FOEX website under Pricing Notices, including a summary of the feedback with the exception of those marked as confidential.

PRICING NOTICE: Discontinuing the PIX US Newsprint index – Open Consultation

HELSINKI, December 1, 2021 (PIX Pulp and Paper indices) - Fastmarkets FOEX is inviting feedback from the industry on the proposal to discontinue its PIX US Newsprint 27.65lb index.

This consultation, which is open until January 14, 2022, seeks to ensure that our proposal is handled 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 requests your comments and opinion (support/not support) on the following possible action: discontinuing the current PIX US Newsprint 27.65lb index by June 30, 2022.

Please send responses and comments in writing, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com. Please add the subject heading "PIX US Newsprint”.

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 open consultation by January 28, 2022, on the Fastmarkets FOEX website under Pricing Notices, including a summary of the feedback with the exception of those marked as confidential.

PRICING NOTICE: PIX Pellet Nordic - Open Consultation

HELSINKI, November 25, 2021 (PIX Bioenergy and Wood Indices) - Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Pellet Nordic price index, as part of its annual methodology review process.

The open consultation, which is open until December 31, 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 no changes in the current index methodology or specifications. You can find these for PIX Pellet Nordic price index here.

Please send responses in writing, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com. Please add the subject heading "PIX Pellet Nordic 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 January 14, 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: Delayed publication of PIX Pulp China Indices on Sep 24, 2021

Helsinki, Sep. 24, 2021 (Fastmarkets FOEX) – Due to a clerical error, there was a delay in publishing the PIX Pulp China values and history data on the Foex website, RISI portal, in the mobile app and in the http file on September 24, 2021. Old data was shown from 10:00 to approximately 10:20 EET.

All databases have now been corrected.

We apologize for the inconvenience caused.

PRICING NOTICE: Delayed publication of PIX Pulp & Paper Indices on Aug 3, 2021

Helsinki, August 3, 2021 (Fastmarkets FOEX) – Due to a technical error, there was a delay in publishing the European PIX Pulp & Paper values as well as the PIX Packaging history series and PIX Packaging http file values on August 3, 2021. Old data was shown from 12:00 to approximately 14:00 EET.

Other history series and http file values except PIX Packaging were not affected. The weekly PIX Indices email, the PIX Pulp & Paper Letters and the PIX US Indices were also not affected.

All databases have now been corrected.

We apologize for the inconvenience caused.

PRICING NOTICE: Changes to PIX Wood Finland Indices – Final Decision

Helsinki, July 7, 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.

As previously proposed and following a consultation, Fastmarkets FOEX has decided to discontinue PIX Sawlogs Finland, PIX Pulpwood Finland, and PIX Birchlogs Finland on Dec 29, 2021.

Fastmarkets FOEX will publish the last indices on Tuesday, December 28, 2021.

The main rationale for this change is that the PIX Wood Finland indices are based on third party data and cannot be linked to individual companies.

Fastmarkets FOEX made a market consultation regarding this change and received comments which were against the proposal, quoting the indices to be important for market data purposes and, instead of discontinuing, suggested developing the indices further to fulfil the requirements. Fastmarkets FOEX would like to thank for the feedback.

However, the current index specifications would require significant altering to fulfil the compliance requirements, as well as support from the market participants to receive the data in required detail. This would mean major changes to the index fundamental, which would be more appropriate to implement in all new indices. Fastmarkets FOEX is open to discussion with the stakeholders, for a possible future development of PIX roundwood indices.

PRICING NOTICE: Open consultation on FOEX methodology for PIX China Pulp Price Indices – Final Decision

HELSINKI, July 2, 2021 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between May 21^st and June 18^th, 2021 on the pricing methodology for its PIX China 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. Fastmarkets FOEX proposed 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”.

We received only a few comments from the market during the consultation period. The comments were rather questions regarding the reasons for the adjustment in the Timing clause. The adjustment includes timing possibilities which the current methodology covers and Fastmarkets FOEX deems that the adjustment to the clause can be made in the methodology.

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.

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

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.

PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Packaging Price 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.