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Fastmarkets RISI invited feedback from the industry on the pricing methodology for Global Pulp, via an open consultation process between May 20 and June 18, 2021. This consultation was done as part of our published annual methodology review process. No feedback was received during the consultation period.
This consultation, sought 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.
At the same time, Fastmarkets RISI proposed to adjust the timing specification for pulp imports to China as follows:
– Current wording – Timing: Orders in the week prior to publication for delivery in the next three months.
– Proposed new wording – Orders in the week prior to publication for delivery in the current month or following month.
This is to bring specifications in line with other Fastmarkets prices and to make clear that orders for delivery further forward are not included in the assessment. Fastmarkets RISI will now proceed with this proposed change, which will take effect from September 1, 2021.
You can find the current methodology for Global Pulp here.
The next annual open consultation for Global Pulp will take place in May/June 2022.