PIX Methodologies & Policies

PRICING NOTICE: Fastmarkets FOEX launches PIX Packaging price indices in the Middle East – Notice of Implementation

HELSINKI, June 6, 2023 (PIX Pulp & Paper Indices) - Fastmarkets today launches PIX Packaging GCC price indices.

After a consultation period that began on April 6 and ended on May 18, Fastmarkets has launched PIX Packaging GCC price indices, covering the main containerboard grades testliner and fluting, produced in and delivered to the Gulf Cooperation Council (GCC) countries. The GCC countries include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

The two Packaging GCC indices are:

PIX Containerboard Testliner Delivered GCC USD/tonne (PIX Testliner GCC)

PIX Containerboard Fluting Delivered GCC USD/tonne (PIX Fluting GCC)

The PIX indices are based on actual transaction data from both buyers and sellers of containerboard. Weighting between price providers is achieved by assigning more price points to larger buyers/sellers than to smaller ones. PIX is a price average of all prices reported in the GCC region. Before calculating the arithmetical average, we remove the highest and lowest 10% of the number of price points.

A full methodology with detailed specifications can be found here.

If you would like to provide price information by becoming a data submitter, please contact Eva Nyman by email at: pricing.foex@fastmarkets.com. Please add the subject heading ‘PIX Packaging GCC’.

PRICING NOTICE: Fastmarkets FOEX decides to launch new PIX Containerboard price indices in the Gulf area – Final Decision

HELSINKI, May 31, 2023 (PIX Pulp & Paper Indices) - Following a consultation period, Fastmarkets has made a decision on its proposal to launch PIX containerboard price indices, covering the main grades testliner and fluting, in the Gulf Cooperation Council (GCC) countries on June 6.

The containerboard market in the Gulf area is growing and there is currently no published price coverage there. We have observed an interest in market information, sufficient to warrant an independent price index series. Fastmarkets has successfully carried out a pilot program for testing the validity of local monthly testliner and fluting price indices in the GCC countries since September. The GCC countries include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

The consultation on this proposal began on April 6 and ended on May 18. The majority of feedback received during the consultation period has been supportive of a launch.

The specifications for PIX Testliner GCC and PIX Fluting GCC are as follows:

Description: PIX Containerboard Testliner Delivered GCC USD/tonne
Description: PIX Containerboard Fluting Delivered GCC USD/tonne
Basis weight: 125 g/m²+
Unit: Metric ton
Quantity: Minimum 25 metric tons of prime quality in reels
Typical furnish: Recovered paper, primarily old corrugated containers (OCC)
Location: Produced in and delivered to: Gulf Cooperation Council (GCC) countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Imports from outside of the GCC countries are excluded.
Incoterm: Delivered to a buyer’s corrugated box/converting plant or warehouse. Most commonly DAP (delivered at place), i.e., the seller handles export and transit country formalities, while the buyer is responsible for import formalities.
Timing: Final price agreed for trades intended for delivery during the data month.
Currency: USD
Payment terms: Net payment terms.
Duties: Customs and other duties paid. Excluding VAT.
Price type: Net price.
Publication: Monthly. At noon Helsinki time (EET/EEST) on the first Tuesday of the following month. (E.g.: The March index is published on the first Tuesday of April.) If Tuesday falls on a public holiday in Finland, the index will be published on the first working day thereafter. Major holidays in the GCC region may impact the publishing schedule. Please see the PIX publishing calendar at foex.fi.

The indices are based on actual transaction data from both buyers and sellers of containerboard. Weighting between price providers is achieved by assigning more price points to larger buyers/sellers than to smaller ones. PIX is a price average of all prices reported in the GCC region. Before calculating the arithmetical average, we remove the highest and lowest 10% of the number of price points.

A full methodology with detailed specifications can be found here.

To provide feedback on this notice or if you would like to provide price information by becoming a data submitter, please contact Eva Nyman by email at: pricing.foex@fastmarkets.com. Please add the subject heading ‘PIX Containerboard GCC’.

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

HELSINKI, May 26, 2023 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between April 26 and May 24, 2023, on the pricing methodology for its PIX Packaging Europe price indices. The consultation was done as part of our annual methodology review process.

In the open consultation, Fastmarkets FOEX did not propose any changes and the feedback received was fully supportive to our current methodology. No material changes were made to the current methodology.

A newly dated methodology document has been posted on foex.fi

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

HELSINKI, May 19, 2023 (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 19 until June 16, 2023, 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 2023”.

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 30, 2023, 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.

PRICING NOTICE: Annual Review of PIX Forest Biomass Finland Indices Methodology – Open Consultation

HELSINKI, May 11, 2023 (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 8, 2023, 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.

Please find the current methodology for the FOEX PIX Forest Biomass Finland price indices here.

Fastmarkets FOEX proposes to clarify the methodology document regarding forest biomass imports. Imported prices and volumes can be included in the index but this has not been specified in the current methodology document.

Please send responses in writing, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com, with the respective subject heading “PIX Forest Biomass Finland indices review 2023”.

We treat feedback as anonymous. 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 confidential, in which case we will not share it in any form.

Fastmarkets will publish the outcome of this methodology review by June 22, 2023, 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.

PRICING NOTICE: Annual Review of PIX Packaging Europe Indices Methodology – Open Consultation

HELSINKI, April 26, 2023 (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 24, 2023, 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. Please find the current methodology for the 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 Indices Review 2023”. 

We treat feedback as anonymous. 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 confidential, in which case we will not share it in any form.

Fastmarkets will publish the outcome of this methodology review by June 7, 2023, on the 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.

PRICING NOTICE: Monthly average values not showing on foex.fi

Helsinki, April 25, 2023 (Fastmarkets FOEX) – Due to a technical issue, the April 2023 PIX Pulp & Paper monthly average values did not appear on the foex.fi website and the Fastmarkets RISI portal and mobile app today.

We are working on a solution and apologize for the inconvenience caused.

Please find the Monthly PIX averages for April 2023 below:

EUROPE
NBSK USD: 1353.28
NBSK EUR: 1239.21
BHKP USD: 1221.02
BHKP EUR: 1118.23
LWC EUR: 986.18
CWF EUR: 1201.82
A4 B-Copy EUR: 1292.76
Newsprint EUR: 802.96
Karftliner EUR: 745.76
White-top Kraftliner: EUR 890.08
Testliner 2 EUR: 552.01
Testliner 3 EUR: 513.11
RB Fluting EUR: 510.68
OCC 1.04 dd EUR: 83.92
ONP/OMG 1.11. dd EUR: 150.29

US
US NBSK USD: 1627.50

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

HELSINKI, April 14, 2023 (PIX Pulp and Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between March 15 and April 12, 2023, 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.

PRICING NOTICE: Proposal to launch PIX containerboard price indices in the Gulf area

HELSINKI, April 6, 2023 (PIX Pulp & Paper Indices) - Fastmarkets proposes to launch PIX containerboard price indices, covering the main grades testliner and fluting, in the Gulf Cooperation Council (GCC) countries.

The containerboard market in the Gulf area is growing and there is currently no published price coverage there. We have observed an interest in market information, sufficient to warrant an independent price index series. Fastmarkets has successfully carried out a pilot program for testing the validity of local monthly testliner and fluting price indices in the GCC countries since September. The GCC countries include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

The proposed specification for PIX Testliner GCC is as follows:

Description: PIX Containerboard Testliner Delivered GCC USD/tonne
Basis weight: 125 g/m²+
Unit: Metric ton
Quantity: Minimum 25 metric tons of prime quality in reels
Typical furnish: Recovered paper, primarily old corrugated containers (OCC)
Location: Produced in and delivered to: Gulf Cooperation Council (GCC) countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Imports from outside of the GCC countries are excluded.
Incoterm: Delivered to a buyer’s corrugated box/converting plant or warehouse. Most commonly DAP (delivered at place), i.e., the seller handles export and transit country formalities, while the buyer is responsible for import formalities.
Timing: Prices for actual deliveries during the data month.
Currency: USD
Payment terms: Net payment terms.
Duties: Customs and other duties paid. Excluding VAT.
Price type: Net price.
Publication: Monthly. At noon Helsinki time (EET/EEST) on the first Tuesday of the following month. (E.g.: The March index is published on the first Tuesday of April, based on prices intended for March deliveries.) If Tuesday falls on a public holiday in Finland, the index will be published on the first working day thereafter. Please see PIX publishing calendar at foex.fi.

The proposed specification for PIX Fluting GCC is as follows:

Description: PIX Containerboard Fluting Delivered GCC USD/tonne
Basis weight: 125 g/m²+
Unit: Metric ton
Quantity: Minimum 25 metric tons of prime quality in reels
Typical furnish: Recovered paper, primarily old corrugated containers (OCC)
Location: Produced in and delivered to: Gulf Cooperation Council (GCC) countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Imports from outside of the GCC countries are excluded.
Incoterm: Delivered to a buyer’s corrugated box/converting plant or warehouse. Most commonly DAP (delivered at place), i.e., the seller handles export and transit country formalities, while the buyer is responsible for import formalities.
Timing: Prices for actual deliveries during the data month.
Currency: USD
Payment terms: Net payment terms
Duties: Customs and other duties paid. Excluding VAT.
Price type: Net price.
Publication: Monthly. At noon Helsinki time (EET/EEST) on the first Tuesday of the following month. (E.g.: The March index is published on the first Tuesday of April, based on prices intended for March deliveries.) If Tuesday falls on a public holiday in Finland, the index will be published on the first working day thereafter. Please see PIX publishing calendar at foex.fi.

The indices are based on actual transaction data from both buyers and sellers of containerboard. Weighting between price providers is achieved by assigning more price points to larger buyers/sellers than to smaller ones. PIX is a price average of all prices reported in the GCC region. Before calculating the arithmetical average, we remove the highest and lowest 10% of the number of price points.

The consultation period for this proposed launch starts from April 6, 2023, and will end on May 18, 2023. Fastmarkets treats feedback as anonymous. We will publish the outcome of this consultation on the Fastmarkets FOEX website under Pricing Notices by June 1, 2023, without attributing the responses in any way so as to protect the identity of respondents. Please specify whether your response is confidential, in which case we will not share it in any form.

To provide feedback on this proposal or if you would like to provide price information by becoming a data submitter, please email pricing.foex@fastmarkets.com. Please add the subject heading ‘PIX Containerboard GCC’.

To see all Fastmarkets FOEX pricing methodology and specification documents see here.

PRICING NOTICE: Annual Review of PIX Recovered Paper Indices Methodology – Final Decision

HELSINKI, March 29, 2023 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between February 22 and March 22, 2023, on the pricing methodology for its PIX Recovered Paper price indices. The consultation was done as part of our annual methodology review process.

In the open consultation, Fastmarkets FOEX did not propose any changes and the feedback received was fully supportive to our current methodology. No material changes were made to the current methodology.

A newly dated methodology document has been posted on foex.fi

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

HELSINKI, March 15, 2023 (PIX Pulp and Paper indices) – Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Paper price indices, as part of its annual methodology review process.

This consultation, which is open until April 12, 2023, 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 Paper 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 Paper review 2023”.

We treat feedback as anonymous. 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 confidential, in which case we will not share it in any form.

Fastmarkets will publish the outcome of this methodology review by April 26, 2023, on the 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.

PRICING NOTICE: Annual review of PIX European Pulp Price Indices Methodology – Final Decision

HELSINKI, March 13, 2023 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between January 31 and February 28, 2023 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. The feedback was fully supportive of the current methodology. 

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.

PRICING NOTICE: PIX Pulp China indices not showing on foex.fi

Helsinki, March 10, 2023 (Fastmarkets FOEX) – Due to a technical issue, the PIX Pulp China indices did not appear on the foex.fi website today.

The values of March 10, 2023 are:

PIX Pulp China BHKP Net: $727.59 (-4.43)

PIX Pulp China NBSK Net: $909.19 (-0.88)

We apologize for the inconvenience caused.

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

HELSINKI, February 22, 2023 (PIX Pulp and Paper indices) – Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Recovered Paper Europe and Germany price indices, as part of its annual methodology review process.

This consultation, which is open until March 22, 2023, 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. Please find the current methodology for the FOEX PIX Recovered Paper 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 Recovered Paper Review 2023”.

We treat feedback as anonymous. 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 confidential, in which case we will not share it in any form.

Fastmarkets will publish the outcome of this methodology review by April 5, 2023, on the 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.

PRICING NOTICE: Annual Review of PIX Sawn Softwood Timber Finland Indices - Final Decision

HELSINKI, February 17, 2023 (PIX Bioenergy and Wood Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between January 18 and February 15, 2023 on the pricing methodology for its PIX Sawn Softwood Timber 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 will be soon posted on foex.fi.

PRICING NOTICE: PIX Recovered Paper Germany indices not showing on foex.fi

Helsinki, February 14, 2023 (Fastmarkets FOEX) – Due to a technical issue, the PIX Recovered Paper Germany indices of January did not appear on the foex.fi website today.

The values of February 14, 2023 are:

PIX RCP Mixed 1.02 GER: €65.35 (-2.64)

PIX OCC 1.04 GER: €75.15 (-5.88)

PIX ONP/OMG 1.11 GER: €169.22 (-13.41)

We apologize for the inconvenience caused.

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

HELSINKI, January 31, 2023 (PIX Pulp and Paper indices) - Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX European Pulp price indices, as part of its annual methodology review process.

This consultation, which is open until February 28, 2023, 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 PIX Pulp Europe price indices (PIX NBSK and PIX BHKP) here.

Please send responses in writing, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com with the respective subject heading "PIX Pulp Europe review 2023”.

We treat feedback as anonymous. 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 confidential, in which case we will not share it in any form.

Fastmarkets will publish the outcome of this methodology review by March 14, 2023, on the 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.

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

HELSINKI, January 18, 2023 (PIX Bioenergy and Wood Indices) - Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Sawn Softwood Timber FAS Finland price indices, as part of its annual methodology review process.

The open consultation, which is open until February 15, 2023, 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.

You can find the current index methodology and specifications for PIX Sawn Softwood Timber FAS Finland price indices here.

Please send responses in writing, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com. Please add the subject heading "PIX Sawn Softwood Timber FAS Finland annual methodology review 2023”.

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 1, 2023, 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.

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

HELSINKI, January 11, 2023 (PIX Bioenergy and Wood Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between November 25 and December 31, 2022 on the pricing methodology for its PIX Pellet Nordic index. 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 will been soon posted on foex.fi.

PRICING NOTICE: Correction in PIX Recovered Paper Germany index letter

Helsinki, December 13, 2022 (Fastmarkets FOEX) – There was a misprint in today’s PIX Recovered Paper Germany index letter on foex.fi.

The correct value of PIX ONP/OMG 1.11 GER is EUR 195.83 (Change: -15.92 EUR)

The file has now been corrected on foex.fi.

We apologize for the inconvenience caused.

PRICING NOTICE: Annual review of the PIX NBSK Pulp US index in NORTH AMERICA – Final Decision

HELSINKI, December 9, 2022 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between October 30 and November 25, 2022 on the pricing methodology for its PIX US NBSK Gross price index in NORTH AMERICA. 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. The comments received were 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 will be posted on foex.fi shortly.