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.