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 PACKAGING GCC 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.
PRICING NOTICE: Discontinuing the PIX Pellet Nordic index – Open Consultation
HELSINKI, November 9, 2023 (PIX Bioenergy & Wood indices) - Fastmarkets FOEX is inviting feedback from the industry on the proposal to discontinue its PIX Pellet Nordic index.
This consultation, which is open until December 21, 2023, 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 FOEX welcomes your comments and opinion (support/not support) on the following possible action: discontinuing the current PIX Pellet Nordic index by May 21, 2024.
Please send responses and comments in writing, preferably in electronic format, to: pricing.foex@fastmarkets.com with the subject heading "PIX Pellet Nordic”.
Please specify whether your response is confidential. Opinions offered in confidential responses may be referenced but will not be attributed in any way.
Fastmarkets will publish the outcome of this open consultation by January 4, 2024 on the Fastmarkets FOEX website under Pricing Notices, including a summary of the feedback with the exception of those marked as confidential.
PRICING NOTICE: Discontinuing the PIX US NBSK Pulp (North America) index – Open Consultation
HELSINKI, November 2, 2023 (PIX Pulp and Paper indices) - Fastmarkets FOEX is inviting feedback from the industry on the proposal to discontinue its PIX US NBSK Pulp (North America) index.
This consultation, which is open until December 14, 2023, 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 FOEX welcomes your comments and opinion (support/not support) on the following possible action: discontinuing the current PIX US NBSK Pulp (North America) by May 31, 2024.
Please send responses and comments in writing, preferably in electronic format, to: pricing.foex@fastmarkets.com with the subject heading "PIX US NBSK Pulp”.
Please specify whether your response is confidential. Opinions offered in confidential responses may be referenced but will not be attributed in any way.
Fastmarkets will publish the outcome of this open consultation by December 28, 2023 on the Fastmarkets FOEX website under Pricing Notices, including a summary of the feedback with the exception of those marked as confidential.
PRICING NOTICE: Annual Review of PIX Forest Biomass Finland Indices Methodology – Final Decision
HELSINKI, June 21, 2023 (PIX Bioenergy and Wood Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between May 11 and June 8, 2023, 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 will be soon posted on foex.fi.
PRICING NOTICE: Annual review on FOEX methodology for PIX China Pulp Price Indices – Final Decision
HELSINKI, June 19, 2023 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between May 19 and June 16, 2023 on the pricing methodology for its PIX China 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: 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
PRICING NOTICE: Annual Review of PIX Pulp China Price Indices Methodology – Open Consultation
PRICING NOTICE: Annual Review of PIX Forest Biomass Finland Indices Methodology – Open Consultation
PRICING NOTICE: Annual Review of PIX Packaging Europe Indices Methodology – Open Consultation
PRICING NOTICE: Annual Review of PIX Paper Price Indices Methodology – Final Decision
PRICING NOTICE: Proposal to launch PIX containerboard price indices in the Gulf area
PRICING NOTICE: Annual Review of PIX Recovered Paper Indices Methodology – Final Decision
PRICING NOTICE: Annual Review of PIX Paper Price Indices Methodology – Open Consultation
PRICING NOTICE: Annual review of PIX European Pulp Price Indices Methodology – Final Decision
PRICING NOTICE: Annual Review of PIX Recovered Paper Indices Methodology – Open Consultation
PRICING NOTICE: Annual Review of PIX Sawn Softwood Timber Finland Indices - Final Decision
PRICING NOTICE: Annual Review of PIX European Pulp Indices Methodology – Open Consultation
PRICING NOTICE: Annual Review of PIX Sawn Timber Finland Indices - Open Consultation
PRICING NOTICE: Annual review of the PIX NBSK Pulp US index in NORTH AMERICA – Final Decision
PRICING NOTICE: Annual review on Fastmarkets FOEX methodology for the PIX Pellet Nordic Index - Open Consultation
PRICING NOTICE: PIX Sawn Timber Pine FAS Finland and PIX Sawn Timber Spruce FAS Finland not showing on foex.fi
PRICING NOTICE: Annual review on Fastmarkets FOEX methodology for the PIX US NBSK Gross Index in North America – Open consultation
PRICING NOTICE: August monthly average of PIX Paper LWC not showing on foex.fi
PRICING NOTICE: Correction in PIX Pellet Nordic Index Letter on July 19, 2022
PRICING NOTICE: Discontinuing the PIX US NBSK Net Change index – Notice of Implementation
PRICING NOTICE: Annual Review of PIX Pulp China Indices Methodology – Final Decision
PRICING NOTICE: Discontinuing the PIX US Newsprint index – Notice of Implementation
PRICING NOTICE: Annual Review of PIX Forest Biomass Finland Indices Methodology – Final Decision
PRICING NOTICE: Annual Review of PIX Packaging Price Indices Methodology – Final Decision
PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Pulp China Price Indices
PRICING NOTICE: Annual Review of PIX Forest Biomass Finland Indices Methodology – Open Consultation
PRICING NOTICE: Annual Review of PIX Packaging Europe Indices Methodology – Open Consultation
PRICING NOTICE: Annual Review of PIX Paper Price Indices Methodology – Final Decision
PRICING NOTICE: Annual Review of PIX Recovered Paper Indices Methodology – Final Decision
PRICING NOTICE: Annual Review of PIX Paper Price Indices Methodology – Open Consultation
PRICING NOTICE: Annual review on FOEX methodology for PIX European Pulp Price Indices – Final Decision
PRICING NOTICE: Annual Review of PIX Recovered Paper Indices Methodology – Open Consultation
PRICING NOTICE: Annual Review of PIX Sawn Softwood Timber Finland Indices - Final Decision
PRICING NOTICE: Annual Review of PIX European Pulp Indices Methodology - Open Consultation
PRICING NOTICE: Open consultation on changes to PIX US Pulp coverage in the UNITED STATES – Final Decision
PRICING NOTICE: Annual Review of PIX Sawn Softwood Timber Finland Indices - Open Consultation
PRICING NOTICE: Changes to PIX Wood Finland Indices – Notice of Implementation
PRICING NOTICE: Changes to Fastmarkets FOEX PIX US Pulp coverage - Open consultation
PRICING NOTICE: Delayed publication of PIX Pulp China Indices on Sep 24, 2021
PRICING NOTICE: Delayed publication of PIX Pulp & Paper Indices on Aug 3, 2021
PRICING NOTICE: Open consultation on FOEX methodology for PIX China Pulp Price Indices – Final Decision
PRICING NOTICE: Open consultation on FOEX methodology for PIX Forest Biomass Finland Price Indices – Final Decision
PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Packaging Price Indices – Final Decision
PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Pulp China Price Indices
PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Forest Biomass Finland
PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Packaging Price Indices
PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Paper Price Indices – Final Decision
PRICING NOTICE: Open consultation on FOEX methodology for Pellet Nordic Index – Final Decision
PRICING NOTICE: Open consultation on FOEX methodology for PIX European Recovered Paper Price Indices – Final Decision
COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Paper Price Indices
COVERAGE NOTE/PRICING NOTICE: Open consultation on FOEX methodology for PIX European Pulp Price Indices – Final Decision
COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Pellet Nordic
COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX European Recovered Paper Price Indices
COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX European Pulp Indices
COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Notice of Implementation
COVERAGE NOTE: PIX Bioenergy, Biomass and Wood - New PIX SAWN TIMBER FAS FINLAND INDICES METHODOLOGY AND SPECIFICATIONS
COVERAGE NOTE: Open consultation on FOEX annual methodology review and proposed schedule change for the PIX Pulp China Indices – Final Decision
COVERAGE NOTE: Open consultation on FOEX methodology for PIX Packaging Europe Indices – Final Decision
COVERAGE NOTE: Open consultation on FOEX methodology for PIX Paper Indices – Final Decision
COVERAGE NOTE: Changes to PIX Pellet Continental Index Coverage – Implementation
COVERAGE NOTE: Open consultation on FOEX methodology for PIX Packaging Europe Indices
COVERAGE NOTE: Open consultation on FOEX methodology for PIX European Pulp and Recovered Paper Price Indices – Final Decision
COVERAGE NOTE: Correction to wording in PIX letter ‘PIX Pulp China Indices’ of March 10, 2020
COVERAGE NOTE: Correction to PIX Recovered Paper February average index values Feb 25, 2020
COVERAGE NOTE: Open consultation on FOEX methodology for PIX European Pulp and Recovered Paper Price Indices
COVERAGE NOTE: Fastmarkets moves to annual methodology reviews across PRA divisions
COVERAGE NOTE: PIX Pulp and Paper incorrect November monthly average values published this afternoon
