PIX Methodologies & Policies
This section includes documents outlining the PIX index methodologies for the PIX Pulp and Paper as well as Bioenergy and Wood 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. 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 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 SAWN TIMBER FAS FINLAND METHODOLOGY AND SPECIFICATIONS
FASTMARKETS FOEX – CODE OF CONDUCT
FASTMARKETS FOEX – COMPLAINTS POLICY
FASTMARKETS FOEX – METHODOLOGY REVIEW PROCESS POLICY
FASTMARKETS FOEX – CORRECTIONS AND DELAYS POLICY
FASTMARKETS FOEX – DATA SUBMITTER POLICY
Fastmarkets FOEX has aligned its index procedures with IOSCO’s Principles for Oil Price Reporting Agencies (the “PRA Principles”). As part of this, we will carry out an external audit by an independent auditing company of key PIX index methodologies each year. In 2018, Fastmarkets FOEX 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. From March 1, 2025 onwards the PIX pricing notices can be found at Fastmarkets webpage.
Open consultation on annual methodology review for PIX Pulp Europe, PIX Pulp China Indices: pricing notice
Fastmarkets is inviting feedback from the industry on the pricing methodology for its PIX Pulp Europe (gross) and PIX Pulp China (net) indices as part of its announced annual methodology review process.
This consultation, which is open until March 6, 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.
Many market stakeholders have expressed concern about current discount levels reaching close to 50% in Europe. To this effect, Fastmarkets would like to receive feedback on whether the current discount levels have grown too high, and open-ended feedback on potential remedies moving forward. IMPORTANT: No changes would be made without extensive stakeholder consultation through a formal process.
You can find the current methodology for PIX Pulp Europe and PIX Pulp China here: https://www.fastmarkets.com/methodology/forest-products/
The prices subject to this annual review are as follows:
- FP-PLP-0039, PIX Pulp NBSK USD
- FP-PLP-0037, PIX Pulp NBSK EUR
- FP-PLP-0040, PIX Pulp BHKP USD
- FP-PLP-0038, PIX Pulp BHKP EUR
- FP-PLP-0034, PIX Pulp China NBSK Net
- FP-PLP-0033, PIX Pulp China BHKP Net
Please send responses in writing, preferably in electronic format, to the following address: pricing@fastmarkets.com. Please add the subject heading ‘PIX Pulp Europe and PIX Pulp China annual review, 2025’. 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 methodology review by March 20, 2025, including a summary of the feedback – with the exception of those responses 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.
To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology
Open consultation on annual methodology review for PIX Sawn Softwood Timber FAS Finland indices: pricing notice
Fastmarkets is inviting feedback from the industry on the pricing methodology for the PIX Sawn Timber Pine FAS Finland and PIX Sawn Timber Spruce FAS Finland indices, including their sub-indices, as part of its announced annual methodology review process.
This consultation, which is open until March 5, 2025, 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 welcomes feedback on how to treat quarterly contracts in the monthly index calculation.
You can find the current methodology for PIX Sawn Softwood Timber FAS Finland here: https://www.fastmarkets.com/methodology/forest-products/pix-sawn-timber-finland-methodology-and-specifications
Please send responses in writing, preferably in electronic format, to the following address: pricing@fastmarkets.com. Please add the subject heading ‘PIX Sawn Softwood Timber FAS Finland annual review, 2025’. 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 methodology review by March 19, 2025, including a summary of the feedback – except for those responses 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.
To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.
PRICING NOTICE: PIX Pulp China values of November 8, 2024 not appearing on foex.fi
There is a delay in publishing the PIX Pulp China values of today due to a technical issue on the foex.fi website. We are investigating it and apologize for any inconvenience caused.
The values are available through the Fastmarkets Dashboard.
Today's values are:
PIX Pulp China BHKP Net USD 554.88 (-1.11)
PIX Pulp China NBSK Net USD 771.04 (+0.76)
PRICING NOTICE: Harmonization of Fastmarkets pricing data policies
HELSINKI, September 11, 2024 - As part of an ongoing process of harmonizing policies across our pricing business, Fastmarkets has retired the RISI FOEX Data Protection Protocol from the Fastmarkets FOEX website and has officially replaced this with the Fastmarkets Data Submitter Policy.
A copy of the policy can be found here.
As stated in our methodologies, Fastmarkets continues to treat data from data submitters in the strictest of confidence. Company-specific data received from PIX index price providers is accessible only to Fastmarkets personnel involved with PIX index pricing, technical or compliance roles.
For comments and queries, please email pricing@fastmarkets.com, indicating “Data Protection Protocol” in the subject line of the email.
To view Fastmarkets policies and methodologies, please visit here.
PRICING NOTICE: PIX Pulp China values of September 13, 2024 not appearing on foex.fi
PRICING NOTICE: Amendment to PIX Packaging GCC (Middle East) naming convention
HELSINKI, July 11, 2024 (PIX Pulp and Paper Indices) - Fastmarkets FOEX has updated the PIX Packaging GCC (Middle East) methodology to reflect the naming convention used on the Fastmarkets FOEX website and Fastmarkets RISI Intelligence Center.
In the methodology price specifications, the shorter names PIX Testliner GCC and PIX Fluting GCC will be used instead of PIX Containerboard Testliner Delivered GCC USD/tonne and PIX Containerboard Fluting Delivered GCC USD/tonne. No other changes have been made to the index methodology.
For comments and queries, please email hello.foex@fastmarkets.com, indicating “PIX Packaging GCC” in the subject line of the email.
A newly dated methodology document has been posted on foex.fi
PRICING NOTICE: PIX Pulp & Paper and PIX Sawn Timber values of June 25, 2024 not appearing on foex.fi main table, missing partially in the historical series
PRICING NOTICE: Annual Review of PIX Forest Biomass Finland Indices Methodology – Final Decision
PRICING NOTICE: Discontinuing the PIX Pulp US NBSK Index (North America) – Notice of Implementation
HELSINKI, May 28, 2024 (PIX Pulp and Paper indices) – As previously announced, Fastmarkets FOEX has implemented the discontinuation of its PIX Pulp US NBSK (North America) price index.
The PIX US NBSK price index was published for the last time this Tuesday, May 28, 2024. The decision to discontinue the index was taken following an open consultation in November 2023, and it was communicated in a Pricing Notice on December 28, 2023. Please find the Pricing Notice here.
We thank all those who have supported the index through the years from November 2002, when it was launched.
PRICING NOTICE: Annual Review of PIX Packaging Europe Indices Methodology – Final Decision
PRICING NOTICE: Discontinuing the PIX Pellet Nordic Index – Notice of Implementation
HELSINKI, May 22, 2024 (PIX Bioenergy and Wood indices) – As previously announced and following a consultation, Fastmarkets FOEX has implemented the following changes to its PIX Pellet Nordic index:
- Discontinued this EUR-based index and its SEK conversion on May 22, 2024.
For comments and queries, please email hello.foex@fastmarkets.com, indicating “PIX Pellet Nordic Index” in the subject line of the email.
More information available here.
PRICING NOTICE: Annual Review of PIX Packaging GCC (Middle East) Price Indices Methodology – Final Decision
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
Fastmarkets successfully completes IOSCO assurance review of key forest products prices
PRICING NOTICE: Annual Review of PIX Packaging GCC (Middle East) Price 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: Delay in Publishing PIX Pulp China Index Monthly Averages for March 2024
PRICING NOTICE: Annual review of PIX Pulp Europe and PIX Pulp China Indices Methodology – Final Decision
PRICING NOTICE: Annual Review of PIX Paper Price Indices Methodology – Open Consultation
PRICING NOTICE: Annual Review of PIX Recovered Paper Indices Methodology – Open Consultation
PRICING NOTICE: Launch of new PIX European Prices for paper for recycling/recovered paper and Discontinuing PPI Europe Prices for similar grades – Final Decision
HELSINKI/BRUSSELS, March 4, 2024 (PIX Pulp & Paper/PPI Europe) – Fastmarkets invited feedback in an open consultation between January 24, 2024 and March 1, 2024 on the following proposed action: Expanding PIX European Recovered Paper coverage and discontinuing PPI Europe Paper for Recycling Assessments. The consultation process 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.
Based on the feedback and support received from the industry, Fastmarkets announces it will be launching PIX pan-European monthly price coverage for the following grades, starting from April 9, 2024:
Description: PIX SOP
- Quality: CEN 2.05.01 Sorted office paper and CEN 2.06.00 Ordinary sorted coloured letters.
- Quantity: min 20 metric tons
- Location: Europe
- Incoterm: Delivered at buyer’s mill or warehouse.
- Timing: Orders for delivery during the current month or following month at the latest
- Unit: Euros per metric ton.
- 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
Description: PIX Multiprint
- Quality: CEN 3.10.00 Multi printing. CEN 3.10.01 Medium printed multi printing can also be included if compatible in price
- Quantity: min 20 metric tons
- Location: Europe
- Incoterm: Delivered at buyer’s mill or warehouse.
- Timing: Orders for delivery during the current month or following month at the latest
- Unit: Euros per metric ton.
- 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
Fastmarkets will discontinue all Paper for Recycling assessments currently featured in its PPI Europe publication from May 8, 2024 and replace therein with the full suite of PIX Recovered Paper Prices including PIX OCC 1.04 dd, PIX ONP/OMG 1.11 dd, PIX RCP Mixed 1.02 GER, and PIX SOP and PIX Multiprint.
Some industry stakeholders suggested using the term ‘Paper for Recycling (PfR)’ while others have suggested continuing to use the term ‘Recovered Paper (RCP)’. Fastmarkets will continue to use both terms, Paper for Recycling (PfR) and Recovered Paper (RCP), while continuing to take feedback about naming conventions from all stakeholders in the supply chain.
The above new price coverage will be in accordance with our PIX European Recovered Paper Price Indices Methodology and they will be added in the methodology document before the launch. For all published Fastmarkets FOEX pricing notices please see here.
We would like to thank everyone for all the feedback received. For comments or queries, please email hello.foex@fastmarkets.com indicating "PIX European Recovered Paper and PPI Europe Paper for Recycling Coverage” in the subject line.
PRICING NOTICE: Annual Review of PIX Sawn Softwood Timber Finland Indices - Final Decision
PRICING NOTICE: Annual Review of PIX Pulp Europe and PIX Pulp China Indices Methodology - Open Consultation
PRICING NOTICE: Proposal to Expand PIX European Recovered Paper Prices and Discontinue PPI Europe Paper for Recycling Prices
PRICING NOTICE: Annual Review of PIX Sawn Timber Finland Indices - Open Consultation
PRICING NOTICE: Proposal to discontinue the PIX NBSK Pulp US index in NORTH AMERICA – Final Decision
PRICING NOTICE: Discontinuing the PIX US NBSK Pulp (North America) index – Open Consultation
PRICING NOTICE: Annual Review of PIX Forest Biomass Finland Indices Methodology – Final Decision
PRICING NOTICE: Annual review on FOEX methodology for PIX China Pulp Price Indices – Final Decision
PRICING NOTICE: Fastmarkets FOEX launches PIX Packaging price indices in the Middle East – Notice of Implementation
PRICING NOTICE: Fastmarkets FOEX decides to launch new PIX Containerboard price indices in the Gulf area – Final Decision
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
