Axio Data, the UK-based owner of forest products industry information service RISI has bought price-index specialist Foex.

The Helsinki-based provider of audited, trade-mark registered pulp, paper, recovered paper and wood based bioenergy/biomass price indices will partner RISI, which will offer its data products by subscription.

Axio says Foex will remain independent, keeping its brand and trademarks while gaining access to additional resources to expand. Timo Teräs will remain as managing director and all Foex staff will remain, as will the PIX indices and methodology.

Axio chief executive Henry Elkington says Foex has developed a “robust methodology” for price discovery in the forest products sector: “We see an opportunity to leverage our ownership of both to create stronger and more extensive price discovery for the sector which will ultimately drive market efficiency and value for all stakeholders."

• A new RISI report says Chinese recovered paper imports are set to decline over the next five years. Continued expansion of domestic collection, decelerating recovered paper demand growth and rising prices of imports are likely to drive the decline it says in a new study.

“Over time, fast-growing recovered paper demand and rising recovered paper prices have stimulated China's domestic recovered paper collection efforts. Now, as we see this trend continuing to grow, more paper and board is staying within the country for domestic collection,” study author and RISI recovered paper senior economist Hannah Zhao says.