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

Fastmarkets FOEX, Bioenergy and Wood Indices

PIX Bioenergy and Wood Service

Wood-based bioenergy makes up a vital part of the Finnish, Swedish and wider Nordic energy palette. As the world moves toward sustainability through renewable energy and increased use of wood, we are eager to deliver a more robust service to include the growing interest in wood-based products for the move toward a low-carbon economy and a solution to climate change.

The Finnish wood bioenergy market is growing and a reduction in the use of coal and peat is expected to further increase future demand. Prices of Finnish forest bioenergy have increased, with our sub-index for Finnish forest residues rising by over 10% in 2019-2021, for example. While a majority of Finnish wood-based bioenergy comes from forest residues and industry by-products, alongside these, wood pellets have a larger share in e.g. Denmark and Sweden. Wood pellets have become a global commodity with almost 40 million tonnes consumed in 2020. The international sawn timber market boomed in 2021 despite the pandemic, and Finnish export volumes increased by about 35% during the first three quarters compared to pre-pandemic levels. Finnish sawn timber export prices rose to record-high levels, but after the most heated moment the prices have come down, as tracked by our sawn softwood indices.

Keep yourself up to date with our price indices and market commentary and get a quote by filling in the subscription form below!

What we cover:

  • PIX Forest Biomass Finland indices – Finnish solid wood-based biomass for energy
  • PIX Pellet Nordic index – industrial-scale use of wood pellets in the Nordic countries
  • PIX Sawn Timber Finland indices – Finnish export prices for pine and spruce lumber

Our indices are calculated from prices of actual trades.

5 ways you can use Fastmarkets PIX Bioenergy and Wood Service:

  • Basis for a price formation directly with a customer/supplier
  • Basis for internal raw material pricing/invoicing between profit centers (e.g. from sawmill to pellet mill)
  • Hedging - through an exchange or bank/other financial institution - product or raw material price risk against a reliable index
  • Market research
  • As a useful reference tool, based on industry information. A transparent and objective source of up-to-date market information

Subscribe to PIX Bioenergy and Wood:





Currenttoggle

Jun 14, 2022

PRICING NOTICE: Annual Review of PIX Forest Biomass Finland Indices Methodology – Final Decision

HELSINKI, June 14, 2022 (PIX Bioenergy and Wood Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between May 13 and June 10, 2022, 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.

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.

May 30, 2022

PRICING NOTICE: Annual Review of PIX Packaging Price Indices Methodology – Final Decision

HELSINKI, May 30, 2022 (PIX Pulp and Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between April 27 and May 25, 2022, on the pricing methodology for its PIX Packaging price 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.

May 20, 2022

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

HELSINKI, May 20, 2022 (PIX Pulp and Paper indices) - Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Pulp China price indices, as part of its annual methodology review process.

This consultation, which is open from May 20 until June 17, 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 Pulp China 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 Pulp China 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 July 1, 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.

Apr 26, 2022

Fastmarkets successfully completes IOSCO assurance review for its key forest products prices

LONDON, April 26, 2022 (Press Release) - Fastmarkets, the industry-leading cross-commodity price reporting agency (PRA), has successfully completed another external assurance review of its key forest products prices.

Professional services company BDO carried out the independent assurance review of the 15 audited prices and found that, as of March 31, 2022, Fastmarkets’ responses were in line with the Principles for Oil PRAs set out by the International Organization of Securities Commissions (IOSCO) in 2012. The review process includes a comprehensive review of all relevant methodologies, processes, and policies to verify their adherence to these Principles.

As stated by the European Securities and Markets Authority (ESMA), this external assurance review is sufficient to demonstrate compliance with the audit requirements of the EU Benchmark Regulation (BMR) for commodity benchmarks (paragraph 18 of Annex II).

The prices reviewed include some of those administered by Fastmarkets Benchmark Administration Oy (FBA Oy), which was incorporated in Finland in December 2020 to administer all benchmarks that are in scope of the BMR.

“The quality of our methodologies, effectiveness of our pricing processes, and integrity of our assessors guide our purpose: to publish reliable and trusted prices that the forest products industry can rely on to trade today and plan for tomorrow,” Fastmarkets CEO Raju Daswani said. “This assurance review supports our commitment to be transparent and accountable.”

This is the first year that Fastmarkets audited all main forest products pricing businesses (FOEX, RISI and Random Lengths) under a single assurance review, which covered 15 prices of both type 1 and type 2 IOSCO accreditations. It includes our key European and Chinese PIX pulp indices, European and North American recovered paper prices and North American price assessments for Southern Yellow Pine, Containerboard and Boxboard markets.

Fastmarkets has invested significantly in resources and technology to ensure its price-assessment process aligns with IOSCO principles.

Fastmarkets is the most trusted cross-commodity price reporting agency (PRA) in the agriculture, forest products, metals and mining, and energy transition markets. We give our customers the insights to trade today and plan for tomorrow.

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 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.

May 14, 2021

PIX Forest Biomass Finland — Breakdown by grade and region available

Fastmarkets FOEX publishes alongside its PIX Forest Biomass main index also sub-indices dividing the data by grade and region.

The following data is available through a PIX Biomass Service subscription:

  • PIX Forest Biomass Finland main index (all Finland, South/West and North/East)
  • PIX Forest Biomass Finland forest chips sub-index (all Finland, South/West and North/East)
  • PIX Forest Biomass Finland by-product sawdust sub-index (all Finland, South/West and North/East)
  • PIX Forest Biomass Finland bark sub-index (all Finland, South/West and North/East)
If you would like to see a sample of the PIX Forest Biomass Finland letter and the data included, please click here.
Mar 16, 2021

Fastmarkets becomes BMR-regulated PRA, strengthening its already robust pricing methodologies

Please see our press release here.