PIX Methodologies & Policies

COVERAGE NOTE: Weighting cap added to PIX Pulp & Paper and Biomass indices

HELSINKI, December 12, 2019 (PIX Pulp & Paper and Biomass Indices) – Fastmarkets FOEX has added a maximum weighting limit of a single price provider to all PIX Pulp & Paper and Biomass indices.

The weighting cap is 25% for significant benchmarks such as pulp Europe, pulp China and recovered paper, and 50% for other benchmarks.

At the same time, the internal guidelines for storing price data have been amended for all PIX price indices. From now on price data will be retained for seven years rather than five years at Fastmarkets FOEX, in line with Fastmarkets company policy.

The methodology documents have been changed accordingly: link

COVERAGE NOTE: PIX publishing dates during the year-end holiday season

HELSINKI, December 4, 2019 (PIX Indices) – Fastmarkets FOEX would like to inform that during the upcoming year-end holiday season with some Finnish public holidays falling on a Tuesday the PIX indices will be published on the following dates:

Tue Dec 10, 2019

Tue Dec 17, 2019

Fri Dec 27, 2019

Tue Dec 31, 2019

Tue Jan 7, 2020

To view the full PIX calendar please see here.

COVERAGE NOTE: Changes to PIX Pellet Continental Coverage – Consultation

HELSINKI, November 29, 2019 (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. Along with this development, some index data collection criteria will not fully fulfil these policy requirements.

Fastmarkets FOEX is considering the following changes to its PIX Pellet Continental Index:

-       Discontinue the PIX Pellet Continental Index on May 6, 2020.

The main rationale for this change is that PIX Pellet Continental includes 3^rd party data delivered by industry associations that cannot be linked to individual companies.

Fastmarkets FOEX will undergo a consultation on this proposal, with the potential that the last index will be published on May 5, 2020.

For comments and queries, please email hello.foex@fastmarkets.com, by December 20, 2019, indicating “PIX Pellet Continental Index” in the subject line of the email.

COVERAGE NOTE: Changes to PIX Woodchip Indices Coverage – Consultation

HELSINKI, November 29, 2019 (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. Along with this development, some index collection criteria will not fully fulfil these policy requirements.

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

-       Discontinue the PIX Hardwood Chip Asia on Jan 22, 2020.

-       Discontinue the PIX Softwood Chip Global on Jan 22, 2020.

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

Fastmarkets FOEX will undergo a consultation on this proposal, with the potential that the last index will be published on Jan 21, 2020.

For comments and queries, please email hello.foex@fastmarkets.com, by December 20, 2019, indicating “PIX Woodchip Indices” in the subject line of the email.

 

COVERAGE NOTE: Changes to US Newsprint Coverage – Final Decision

HELSINKI, August 13, 2019 (PIX Paper Indices) – As previously announced and following consultation, Fastmarkets FOEX will make a number of updates to its PIX US Newsprint indices. The following price series will be affected:

• PIX US Newsprint (30 lb/48.8 g)
• PIX US Newsprint 27.65 lb (45 g)

These changes will be effective at the start of 2020:

• Fastmarkets FOEX will discontinue price assessments for PIX US Newsprint (30 lb/48.8 g). We will continue to publish PIX US Newsprint 27.65 lb (45 g).
• Fastmarkets FOEX will adjust its brightness specifications from 58-60 ISO to 55-58 ISO.

Fastmarkets FOEX currently tracks US newsprint delivered to the east coast. During the consultation, we asked for feedback on possibly including deliveries to the west coast in one single US Newsprint index. Based on the comments received, Fastmarkets FOEX will continue to focus on east coast deliveries.

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

COVERAGE NOTE: PIX Paper Indices - Starting from July 11, 2019, FOEX launches new PIX PAPER INDICES METHODOLOGY AND SPECIFICATIONS

COVERAGE NOTE: PIX Packaging Europe Indices - Starting from July 1, 2019, FOEX launches new PIX PACKAGING EUROPE INDICES METHODOLOGY AND SPECIFICATIONS

COVERAGE NOTE: PIX US Pulp Index - Starting from June 1, 2019, FOEX launches new PIX US PULP INDEX METHODOLOGY AND SPECIFICATIONS

COVERAGE NOTE: Call for comments on new indices for the MENA region

HELSINKI, June 27, 2019 (Fastmarkets) – Fastmarkets FOEX and Fastmarkets RISI are seeking feedback on potential new pulp, paper-based packaging and recovered paper indices for the MENA region.

This follows market trends towards increased trade in the MENA region. Companies active in the region have expressed a demand for benchmark prices to help them make better business decisions.

Specifically, we would like to hear from stakeholders:

• Whether they would be interested in contributing to or receiving packaging indices for the MENA region;
• Which grades and specs they would like us to consider;
• Which countries should be included in the index;
• Which publishing frequency would be most appropriate;
• Whether the basic principles of the current PIX pulp and paper methodologies might be adapted for the MENA market and what specific changes if any would be needed.

Please send comments and queries to hello.foex@fastmarkets.com or pricing.risi@fastmarkets.com by July. 31, 2019, indicating “MENA packaging indices” in the subject line of the email.

To view Fastmarkets FOEX methodologies, policies and other Coverage Notes, please see here.

To view Fastmarkets RISI methodologies, policies and other Coverage Notes, please see here.

COVERAGE NOTE: PIX Bioenergy - Starting from July 1, 2019, FOEX launches new PIX PELLET NORDIC INDEX METHODOLOGY AND SPECIFICATIONS

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

HELSINKI, May 24, 2019 (PIX Bioenergy and Wood Indices) – Following a market consultation with no objections to the proposal received, Fastmarkets FOEX would like to confirm the following changes to its PIX Forest Biomass Finland index and its sub-indices with no material changes:

PIX Bioenergy and Wood Indices:

• Specify the eligible price definition concerning longer than 12-month transactions
• Detail the eligible price definition concerning indexed prices
• Define the grade classification using Fuel Classification 2019 by Statistics Finland
• Specify the delivery terms to DDU, unloaded at buyer’s plant/ TOP Finnterms
• The specifications will be in English, with a Finnish summary including all parts concerning price reporting practices available

Outside of the specifications themselves, Fastmarkets FOEX will replace the unofficial logging residue & unpruned stem chip number in the monthly letter with only logging residue number, and considers publishing a separate sub-index for that in the future. Also, regional collection and publishing for the indices will be considered and developed further.

For queries, please email hello.foex@fastmarkets.com, indicating “PIX Forest Biomass Finland Index” in the subject line of the email.

Change in the publishing time of the PIX Pulp & Paper indices - Notice of Implementation

As previously announced, Fastmarkets FOEX will concentrate the publishing time of all PIX indices to 12 noon EET (Helsinki time) on Tuesdays with the effect from April 1, 2019.

This change was subject of consultation and is meant to streamline operations and better serve clients with one publishing time for all Fastmarkets FOEX deliverables.

This change will affect the publishing of the following PIX indices:

Current publishing at 9 am EET:

• PIX Pulp China BHKP Net
• PIX Pulp China NBSK Net

Current publishing at 9 am EST:

• PIX Pulp US NBSK
• PIX US Newsprint
• PIX US Newsprint 27.65 lb

For comments or queries, please email: hello.foex@fastmarkets.com, indicating “Change in publishing times” in the subject line of the email.

PIX Recovered Paper Europe Indices - Starting from March 1, 2019, Fastmarkets FOEX launches PIX RECOVERED PAPER EUROPE METHODOLOGY AND SPECIFICATIONS including PIX Recovered Paper Germany indices

4.2 and 4.2.1 revised to reflect the new Data Submitter Policy (DSP) document replacing formal audits of the price data providers

4.2.2 Added sentence about auditing of FOEX calculation procedure and methodology

4.2.3 Auditing - (of price data providers) section has been deleted

6.2. Weighting - section has been shortened

PIX Recovered Paper Europe Indices - Starting from April 1, 2018, FOEX launches new PIX RECOVERED PAPER EUROPE METHODOLOGY AND SPECIFICATIONS

Changes to PIX China Indexes - This coverage note confirms that FOEX will cease publishing the old PIX Pulp China indices from January 2018 onwards and continue only with the PIX Pulp China Net Indexes for NBSKP and BHKP.

PIX Pulp China Net Indices – Starting on April 4, 2017, FOEX will begin publishing new weekly net price indices for NBSK and BHKP in China. The previous PIX Pulp China price indices will continue to be published in the weekly email to subscribers alongside the new PIX Pulp China net price indices until further notice and likewise in the online weekly report “PIX Pulp China letter”.