HELSINKI/BRUSSELS, January 26, 2024 (PIX Pulp & Paper/PPI Europe) - This consultation, which is open until March 1, 2024, 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 welcomes your feedback on the following possible action: Expanding PIX European Recovered Paper coverage and discontinuing PPI Europe Paper for Recycling Assessments. Fastmarkets has received feedback from the market that providing similar prices for the same grades of Paper for Recycling in PPI Europe and PIX has been the source of some confusion. Fastmarkets understands that market preference leans towards PIX Recovered Paper prices. To this effect, Fastmarkets proposes expanding PIX to include higher grades and discontinuing PPI Europe prices. This consultation is opened until March 1, 2024, and subject to feedback from and engagement with the industry, we intend to implement the change starting from April 2024.

Specifically, this would entail adding PIX pan-European monthly price coverage for the following grades:

CEN 2.06 Coloured letters

• Quality:       CEN 2.06 Coloured letters
• Quantity:     Minimum 20 metric tons
• Location:     Europe
• Timing:       Orders for delivery during the current month or following month at the latest
• Unit:           Euros per metric ton
• Incoterm:    Delivered at buyer’s mill or warehouse.
• Payment terms:30 days or other term of payment which is used in the majority of sales/purchases.
• Publication: Monthly on second Tuesday of each month at 11am CET

CEN 3.10 Multi printing

• Quality:       CEN 3.10 Multi printing
• Quantity:     Minimum 20 metric tons
• Location:     Europe
• Timing:       Orders for delivery during the current month or following month at the latest
• Unit:           Euros per metric ton
• Incoterm:    Delivered at buyer’s mill or warehouse.
• Payment terms:30 days or other term of payment which is used in the majority of sales/purchases.
• Publication:  Monthly on second Tuesday of each month at 11am CET

All Paper for Recycling assessments currently featured in Fastmarkets’ PPI Europe publication will be discontinued and replaced therein with the full suite of expanded PIX Recovered Paper Prices including PIX OCC 1.04 dd, PIX ONP/OMG 1.11 dd, PIX RCP Mixed 1.02 GER and the above two new grades.

Please send responses in writing, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com. Please add the subject heading "PIX European Recovered Paper and PPI Europe Paper for Recycling Coverage”.

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 March 8, 2024, on the Fastmarkets FOEX website under Pricing Notices, including a summary of the feedback with the exception of those marked as anonymous.