Fastmarkets FOEX launches PIX Packaging price indices in the Middle East – Notice of Implementation

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’.