FOEX Launches Net PIX Price Indices for China Pulp Market

Focus on net prices will lead to more robust and relevant indices for all

HELSINKI, Dec. 13, 2017 /PRNewswire/ -- Starting January 2018, FOEX will switch completely to PIX net price indices for China pulp to provide more robust and relevant indices for the China pulp and paper market. At the same time, it will discontinue its previous PIX China Pulp indices.

The decision was based on the growing trend for the Chinese industry players to settle pulp pricing on a net basis. FOEX will collect net price data and deliver an index that covers a larger share of market pulp transactions in China.

"While PIX indices were designed to track relative price changes over time, there's a high demand on the market for indices that also reflect actual net price levels," explained Lars Halén, Director of Pulp Indices at FOEX "We made the decision to move to the net price concept after interviewing a number of companies in the industry about how best to cover the Chinese pulp market."

FOEX first introduced PIX Pulp China indices in 2009 as gross price indices, but over time they became a mix of both gross and net price indices as pricing behavior in the market evolved. In April 2017, FOEX conducted extensive market research with the pulp and paper industry, and added the PIX Pulp China Net indices for NBSKP and BHKP. In September 2017, FOEX announced that it would discontinue the old gross indices from the start of 2018, leaving only the net indices.

FOEX remains committed to providing reliable price indices that are deemed relevant and useful in the industry.

About FOEX Indexes Ltd FOEX is an independent market reference price index provider based in Helsinki, Finland. FOEX produces PIX price indices for the pulp, recovered paper, paper, paperboard, and forest-based bioenergy industries. Together with RISI, FOEX was acquired by Euromoney Institutional Investor PLC in 2017. []

About Euromoney Euromoney Institutional Investor PLC is listed on the London Stock Exchange and is a member of the FTSE 250 share index. It is an international business-information group covering asset management, price discovery, data & market intelligence, and banking & finance under brands including Euromoney, Institutional Investor, BCA Research, Ned Davis Research and Metal Bulletin. The group also runs an extensive portfolio of events for the telecoms, financial and commodities markets. []

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