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

PIX Methodologies & Policies

This section includes documents outlining the PIX index methodologies for the PIX Pulp and Paper as well as Bioenergy indices – which to feasible parts will be made applicable to all PIX price indices. This page also includes a set of FOEX policy documents designed to make Fastmarkets FOEX index procedures more robust as well as Fastmarket FOEX pricing notices. These documents are based upon the IOSCO Principles for Price Reporting Agencies. (IOSCO - International Organization of Securities Commissions: www.iosco.org). For a copy of our independent assurance report, please click here.

PIX PULP EUROPE METHODOLOGY AND SPECIFICATIONS

PIX PULP CHINA METHODOLOGY AND SPECIFICATIONS

PIX PULP US METHODOLOGY AND SPECIFICATIONS

PIX PAPER METHODOLOGY AND SPECIFICATIONS

PIX PACKAGING EUROPE METHODOLOGY AND SPECIFICATIONS

PIX RECOVERED PAPER EUROPE METHODOLOGY AND SPECIFICATIONS

PIX FOREST BIOMASS FINLAND METHODOLOGY AND SPECIFICATIONS

PIX PELLET NORDIC METHODOLOGY AND SPECIFICATIONS

PIX SAWN TIMBER FAS FINLAND METHODOLOGY AND SPECIFICATIONS

FASTMARKETS FOEX/RISI CONFIDENTIAL CONTRIBUTED DATA PROTECTION PROTOCOL

FASTMARKETS FOEX – CODE OF CONDUCT

FASTMARKETS FOEX – COMPLAINTS POLICY

FASTMARKETS FOEX – METHODOLOGY REVIEW PROCCESS POLICY

FASTMARKETS FOEX – CORRECTIONS AND NEW PRICE LAUNCH POLICY

FASTMARKETS FOEX – DATA SUBMITTER POLICY

Fastmarkets FOEX is in the process of aligning its index procedures with IOSCO’s Principles for Oil Price Reporting Agencies (the “PRA Principles”). As part of this process, we will carry out an external audit by an independent auditing company of one PIX index methodology each year. In 2018, Fastmarkets FOEX also introduced a new Data Submitter policy to replace formal audits of price providers.

Pricing Notices

Pricing Notices are notifications of changes to price coverage, methodology and index specifications as well as introductions of new PIX indices.

May 13, 2022

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.

Apr 27, 2022

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.

Apr 20, 2022

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.

Mar 23, 2022

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

Mar 16, 2022

PRICING NOTICE: Annual Review of PIX Paper Price Indices Methodology – Open Consultation

Mar 14, 2022

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.

Feb 22, 2022

PRICING NOTICE: Annual Review of PIX Recovered Paper Indices Methodology – Open Consultation

Feb 14, 2022

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.

Jan 31, 2022

PRICING NOTICE: Annual Review of PIX European Pulp Indices Methodology - Open Consultation

Jan 28, 2022

PRICING NOTICE: Discontinuing the PIX US Newsprint index – Final Decision

HELSINKI, January 28, 2022 (PIX Pulp and Paper indices) – As previously proposed and following a consultation, Fastmarkets FOEX has decided to discontinue the PIX US Newsprint 27.65lb index. Fastmarkets FOEX will publish the last index on June 28, 2022.

This decision is motivated by the shrinking US newsprint market, limited interest in the index, and plans to harmonize our US coverage.

Fastmarkets FOEX carried out a market consultation regarding this change from December 1, 2021 to January 14, 2022. Most feedback supported the discontinuation and respondents confirmed that the index is not actively used by the industry at present. One respondent opposed the discontinuation on the basis that the index tends to accurately track price trends and can be a useful independent data for the industry. However, Fastmarkets FOEX needs to focus its resources on indices that are interesting commercially for the market and will therefore proceed with the discontinuation. Fastmarkets FOEX would like to thank all respondents for their feedback.

The US newsprint market will continue to be covered by Fastmarkets RISI.

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

Jan 28, 2022

PRICING NOTICE: Open consultation on changes to PIX US Pulp coverage in the UNITED STATES – Final Decision

HELSINKI, January 28, 2022 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between December 1, 2021 and January 14, 2022, on our proposals to:

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

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

Fastmarkets FOEX would like to thank those who took the time to respond to the consultation. We received comments from the market during the consultation period where both a) and b) received support as well as discouragement.

a)    The majority of respondents were not in favor of launching a new net price index.

b)    The majority of respondents were not in favor of discontinuing the current PIX US NBSK (gross) index.

The final decision by Fastmarkets FOEX is the following:

a)    Not to develop a new net price index in the US market at this stage.

b)    1.    To continue the PIX US NBSK gross index.

2.    To discontinue the PIX US NBSK Net Change index by June 30, 2022.

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

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

Jan 25, 2022

PRICING NOTICE: Corrected PIX Paper A4-B Copy index value on Jan 25, 2022

Jan 14, 2022

PRICING NOTICE: Annual Review of PIX Sawn Softwood Timber Finland Indices - Open Consultation

Jan 5, 2022

PRICING NOTICE: Annual Review of PIX Pellet Nordic Index - Final Decision

Dec 29, 2021

PRICING NOTICE: Changes to PIX Wood Finland Indices – Notice of Implementation

Dec 1, 2021

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

Dec 1, 2021

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

Nov 25, 2021

PRICING NOTICE: PIX Pellet Nordic - Open Consultation

Sep 24, 2021

PRICING NOTICE: Delayed publication of PIX Pulp China Indices on Sep 24, 2021

Aug 3, 2021

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

Jul 7, 2021

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

Jul 2, 2021

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

Jun 16, 2021

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

Jun 4, 2021

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

May 21, 2021

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

May 14, 2021

PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Forest Biomass Finland

Apr 28, 2021

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

Apr 26, 2021

PRICING NOTICE: Changes to PIX Wood Finland Indices – Consultation

Apr 20, 2021

PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Paper Price Indices – Final Decision

Mar 31, 2021

PRICING NOTICE: Open consultation on FOEX methodology for Pellet Nordic Index – Final Decision

Mar 30, 2021

PRICING NOTICE: Open consultation on FOEX methodology for PIX European Recovered Paper Price Indices – Final Decision

Mar 19, 2021

COVERAGE NOTE: Renaming Coverage Notes as Pricing Notices

Mar 16, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Paper Price Indices

Mar 12, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on FOEX methodology for PIX European Pulp Price Indices – Final Decision

Feb 25, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Pellet Nordic

Feb 24, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX European Recovered Paper Price Indices

Feb 23, 2021

COVERAGE NOTE: PIX Paper weighting scale updated

Feb 19, 2021

COVERAGE NOTE: PIX Sawn Softwood Timber FAS Finland – Final Decision

Jan 29, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX European Pulp Indices

Jan 15, 2021

COVERAGE NOTE: PIX Sawn Softwood Timber FAS Finland - Open Consultation

Oct 13, 2020

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Notice of Implementation

Aug 28, 2020

COVERAGE NOTE: PIX Bioenergy, Biomass and Wood - New PIX SAWN TIMBER FAS FINLAND INDICES METHODOLOGY AND SPECIFICATIONS

Jul 17, 2020

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

Jun 17, 2020

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

Jun 5, 2020

COVERAGE NOTE: PIX China - proposed schedule change and open consultation

May 28, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX Packaging Europe Indices – Final Decision

May 12, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX Paper Indices – Final Decision

May 8, 2020

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Open Consultation

May 6, 2020

COVERAGE NOTE: Changes to PIX Pellet Continental Index Coverage – Implementation

Apr 24, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX Packaging Europe Indices

Apr 7, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX Paper Indices

Mar 19, 2020

COVERAGE NOTE: Fastmarkets Forest Products business continuity statement

Mar 13, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX European Pulp and Recovered Paper Price Indices – Final Decision

Mar 11, 2020

COVERAGE NOTE: Correction to wording in PIX letter ‘PIX Pulp China Indices’ of March 10, 2020

Feb 25, 2020

COVERAGE NOTE: Correction to PIX Recovered Paper February average index values Feb 25, 2020

Jan 31, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX European Pulp and Recovered Paper Price Indices

Jan 23, 2020

COVERAGE NOTE: Fastmarkets moves to annual methodology reviews across PRA divisions

Jan 22, 2020

COVERAGE NOTE: Changes to PIX Woodchip Indices Coverage – Implementation

Jan 7, 2020

COVERAGE NOTE: Changes to US Newsprint Coverage – Implementation

Dec 23, 2019

COVERAGE NOTE: Changes to PIX Pellet Continental Coverage – Final Decision

Dec 23, 2019

COVERAGE NOTE: Changes to PIX Woodchip Indices Coverage – Final Decision

Dec 12, 2019

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

Dec 4, 2019

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

Nov 29, 2019

COVERAGE NOTE: Changes to PIX Pellet Continental Coverage – Consultation

Nov 29, 2019

COVERAGE NOTE: Changes to PIX Woodchip Indices Coverage – Consultation

Nov 26, 2019

COVERAGE NOTE: PIX Pulp and Paper incorrect November monthly average values published this afternoon

Aug 13, 2019

COVERAGE NOTE: Changes to US Newsprint Coverage – Final Decision

Jul 11, 2019

COVERAGE NOTE: PIX Paper Indices - NEW PIX PAPER INDICES METHODOLOGY AND SPECIFICATIONS

Jul 1, 2019

COVERAGE NOTE: PIX Packaging Europe Indices - NEW METHODOLOGY AND SPECIFICATIONS

Jun 28, 2019

COVERAGE NOTE: PIX US Pulp Index - NEW METHODOLOGY AND SPECIFICATIONS

Jun 27, 2019

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

Jun 26, 2019

COVERAGE NOTE: PIX Bioenergy - New PIX PELLET NORDIC INDEX METHODOLOGY AND SPECIFICATIONS

Jun 4, 2019

COVERAGE NOTE: Changes to US Newsprint Coverage - Consultation

May 24, 2019

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

Apr 18, 2019

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Consultation

Mar 21, 2019

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

Mar 7, 2019

Proposed change in the publishing time of the PIX Pulp & Paper indices - Consultation

Mar 1, 2019

PIX Recovered Paper Europe Indices - Methodology Update

Nov 1, 2018

PIX Pulp Europe Methodology and Specifications - Adjustments

Apr 5, 2018

PIX Recovered Paper Europe Indices -New Methodology

Dec 8, 2017

Changes to PIX China Indexes

Apr 4, 2017

PIX Pulp China Net Indices - Launch