Launch of new PIX European Prices for paper for recycling/recovered paper and Discontinuing PPI Europe Prices for similar grades – Final Decision

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.

March 4, 2024

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.