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EUA prices ranged from 27.50 to 29.50 EUR in the past week and Dec 19 future is now trading at 28 EUR per tonne. It looks that market will continue to be stuck in a range for a while but short term risk seems to be to the downside. EUAs are still supported by reduced primary auction volumes in August while upside is currently limited by increased uncertainty in global markets due to recent tensions in US – China relations.
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