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

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.

Nov 9, 2023

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.

Nov 2, 2023

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.

Jun 21, 2023

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.

Jun 19, 2023

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.

Jun 6, 2023

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’.

May 31, 2023

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’.

May 26, 2023

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

May 19, 2023

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

May 11, 2023

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

Apr 26, 2023

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

Apr 25, 2023

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

Apr 14, 2023

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

Apr 6, 2023

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

Mar 29, 2023

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

Mar 15, 2023

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

Mar 13, 2023

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

Mar 10, 2023

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

Feb 22, 2023

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

Feb 17, 2023

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

Feb 14, 2023

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

Jan 31, 2023

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

Jan 18, 2023

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

Jan 11, 2023

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

Dec 13, 2022

PRICING NOTICE: Correction in PIX Recovered Paper Germany index letter

Dec 9, 2022

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

Nov 25, 2022

PRICING NOTICE: Annual review on Fastmarkets FOEX methodology for the PIX Pellet Nordic Index - Open Consultation

Nov 22, 2022

PRICING NOTICE: PIX Sawn Timber Pine FAS Finland and PIX Sawn Timber Spruce FAS Finland not showing on foex.fi

Oct 30, 2022

PRICING NOTICE: Annual review on Fastmarkets FOEX methodology for the PIX US NBSK Gross Index in North America – Open consultation

Aug 30, 2022

PRICING NOTICE: August monthly average of PIX Paper LWC not showing on foex.fi

Jul 19, 2022

PRICING NOTICE: Correction in PIX Pellet Nordic Index Letter on July 19, 2022

Jul 13, 2022

PRICING NOTICE: Discontinuing the PIX US NBSK Net Change index – Notice of Implementation

Jul 1, 2022

PRICING NOTICE: Annual Review of PIX Pulp China Indices Methodology – Final Decision

Jun 29, 2022

PRICING NOTICE: Discontinuing the PIX US Newsprint index – Notice of Implementation

Jun 17, 2022

PRICING NOTICE: Delay in publishing PIX Pulp China Indices today

Jun 14, 2022

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

May 30, 2022

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

May 20, 2022

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

May 13, 2022

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

Apr 27, 2022

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

Apr 20, 2022

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

Mar 23, 2022

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

Mar 16, 2022

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

Mar 14, 2022

PRICING NOTICE: Annual review on FOEX methodology for PIX European Pulp Price Indices – Final Decision

Feb 22, 2022

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

Feb 14, 2022

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

Jan 31, 2022

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

Jan 28, 2022

PRICING NOTICE: Discontinuing the PIX US Newsprint index – Final Decision

Jan 28, 2022

PRICING NOTICE: Open consultation on changes to PIX US Pulp coverage in the UNITED STATES – Final Decision

Jan 25, 2022

PRICING NOTICE: Corrected PIX Paper A4-B Copy index value on Jan 25, 2022

Jan 14, 2022

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

Jan 5, 2022

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

Dec 29, 2021

PRICING NOTICE: Changes to PIX Wood Finland Indices – Notice of Implementation 

Dec 1, 2021

PRICING NOTICE: Changes to Fastmarkets FOEX PIX US Pulp coverage - Open consultation

Dec 1, 2021

PRICING NOTICE: Discontinuing the PIX US Newsprint index – Open Consultation

Nov 25, 2021

PRICING NOTICE: PIX Pellet Nordic - Open Consultation

Sep 24, 2021

PRICING NOTICE: Delayed publication of PIX Pulp China Indices on Sep 24, 2021

Aug 3, 2021

PRICING NOTICE: Delayed publication of PIX Pulp & Paper Indices on Aug 3, 2021

Jul 7, 2021

PRICING NOTICE: Changes to PIX Wood Finland Indices – Final Decision

Jul 2, 2021

PRICING NOTICE: Open consultation on FOEX methodology for PIX China Pulp Price Indices – Final Decision

Jun 16, 2021

PRICING NOTICE: Open consultation on FOEX methodology for PIX Forest Biomass Finland Price Indices – Final Decision 

Jun 4, 2021

PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Packaging Price Indices – Final Decision 

May 21, 2021

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

May 14, 2021

PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Forest Biomass Finland 

Apr 28, 2021

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

Apr 26, 2021

PRICING NOTICE: Changes to PIX Wood Finland Indices – Consultation 

Apr 20, 2021

PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Paper Price Indices – Final Decision 

Mar 31, 2021

PRICING NOTICE: Open consultation on FOEX methodology for Pellet Nordic Index – Final Decision 

Mar 30, 2021

PRICING NOTICE: Open consultation on FOEX methodology for PIX European Recovered Paper Price Indices – Final Decision 

Mar 19, 2021

COVERAGE NOTE: Renaming Coverage Notes as Pricing Notices

Mar 16, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Paper Price Indices

Mar 12, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on FOEX methodology for PIX European Pulp Price Indices – Final Decision 

Feb 25, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Pellet Nordic

Feb 24, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX European Recovered Paper Price Indices

Feb 23, 2021

COVERAGE NOTE: PIX Paper weighting scale updated

Feb 19, 2021

COVERAGE NOTE: PIX Sawn Softwood Timber FAS Finland – Final Decision 

Jan 29, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX European Pulp Indices

Jan 15, 2021

COVERAGE NOTE: PIX Sawn Softwood Timber FAS Finland - Open Consultation 

Oct 13, 2020

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Notice of Implementation 

Aug 28, 2020

COVERAGE NOTE: PIX Bioenergy, Biomass and Wood - New PIX SAWN TIMBER FAS FINLAND INDICES METHODOLOGY AND SPECIFICATIONS

Jul 17, 2020

COVERAGE NOTE: Open consultation on FOEX annual methodology review and proposed schedule change for the PIX Pulp China Indices – Final Decision

Jun 17, 2020

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Final Decision

Jun 5, 2020

COVERAGE NOTE: PIX China - proposed schedule change and open consultation

May 28, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX Packaging Europe Indices – Final Decision 

May 12, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX Paper Indices – Final Decision 

May 8, 2020

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Open Consultation

May 6, 2020

COVERAGE NOTE: Changes to PIX Pellet Continental Index Coverage – Implementation

Apr 24, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX Packaging Europe Indices 

Apr 7, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX Paper Indices

Mar 19, 2020

COVERAGE NOTE: Fastmarkets Forest Products business continuity statement

Mar 13, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX European Pulp and Recovered Paper Price Indices – Final Decision 

Mar 11, 2020

COVERAGE NOTE: Correction to wording in PIX letter ‘PIX Pulp China Indices’ of March 10, 2020 

Feb 25, 2020

COVERAGE NOTE: Correction to PIX Recovered Paper February average index values Feb 25, 2020 

Jan 31, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX European Pulp and Recovered Paper Price Indices 

Jan 23, 2020

COVERAGE NOTE: Fastmarkets moves to annual methodology reviews across PRA divisions 

Jan 22, 2020

COVERAGE NOTE: Changes to PIX Woodchip Indices Coverage – Implementation

Jan 7, 2020

COVERAGE NOTE: Changes to US Newsprint Coverage – Implementation

Dec 23, 2019

COVERAGE NOTE: Changes to PIX Pellet Continental Coverage – Final Decision

Dec 23, 2019

COVERAGE NOTE: Changes to PIX Woodchip Indices Coverage – Final Decision

Dec 12, 2019

COVERAGE NOTE: Weighting cap added to PIX Pulp & Paper and Biomass indices

Dec 4, 2019

COVERAGE NOTE: PIX publishing dates during the year-end holiday season

Nov 29, 2019

COVERAGE NOTE: Changes to PIX Pellet Continental Coverage – Consultation

Nov 29, 2019

COVERAGE NOTE: Changes to PIX Woodchip Indices Coverage – Consultation

Nov 26, 2019

COVERAGE NOTE: PIX Pulp and Paper incorrect November monthly average values published this afternoon

Aug 13, 2019

COVERAGE NOTE: Changes to US Newsprint Coverage – Final Decision

Jul 11, 2019

COVERAGE NOTE: PIX Paper Indices - NEW PIX PAPER INDICES METHODOLOGY AND SPECIFICATIONS

Jul 1, 2019

COVERAGE NOTE: PIX Packaging Europe Indices - NEW METHODOLOGY AND SPECIFICATIONS

Jun 28, 2019

COVERAGE NOTE: PIX US Pulp Index - NEW METHODOLOGY AND SPECIFICATIONS

Jun 27, 2019

COVERAGE NOTE: Call for comments on new indices for the MENA region

Jun 26, 2019

COVERAGE NOTE: PIX Bioenergy - New PIX PELLET NORDIC INDEX METHODOLOGY AND SPECIFICATIONS

Jun 4, 2019

COVERAGE NOTE: Changes to US Newsprint Coverage - Consultation

May 24, 2019

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Final Decision

Apr 18, 2019

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Consultation

Mar 21, 2019

Change in the publishing time of the PIX Pulp & Paper indices - Notice of Implementation 

Mar 7, 2019

Proposed change in the publishing time of the PIX Pulp & Paper indices - Consultation 

Mar 1, 2019

PIX Recovered Paper Europe Indices - Methodology Update

Nov 1, 2018

PIX Pulp Europe Methodology and Specifications - Adjustments

Apr 5, 2018

PIX Recovered Paper Europe Indices -New Methodology

Dec 8, 2017

Changes to PIX China Indexes

Apr 4, 2017

PIX Pulp China Net Indices - Launch