FEX logistic may well benefit from marginal IO prices - some...

FEX logistic may well benefit from marginal IO prices - some other mid or lower tier producers may not be able to shift tonnage at these prices but Newhaul can - MGX sold Shine for this reason as costs were too high. Not to be dismissed here FEX might have a more attractive offering to shift stock for other higher cost companies that otherwise are stuck with fixed costs and lose either way.
Citi upgraded to a buy on FMG on the basis of oversold - JPM already had - when more buys come out on the big end of town its shows sentiment is pivoting and these prices