Copper prices on the Shanghai Futures Exchange dropped yesterday amid concerns that the falling euro would curb demand in Europe, analysts said.

Aluminum fell in line with copper, while natural rubber ended mixed.

March copper, the most actively traded contract in Shanghai, lost 1.9 percent to 19,140 yuan (US$2,306) a metric ton, with 21,616 contracts changing hands. A total of 55,892 contracts were traded.

In London, three-month copper slipped 1.53 percent to US$1,866 a ton after the euro fell to a low of 82.3 U.S. cents.

Concerns that a slowdown in the development of the European economy would reduce consumption of copper have made many investors, who had bet on the market advancing, sell their contracts to get out of the positions.

Though analysts have predicted a shortage in the metal supply by the end of this year, a recent report showed this year¡¯s global output of copper unexpectedly rose 2.9 percent.

Some analysts said copper prices will continue to drop due to a lack of buying interest.

Active January aluminum fell 1.04 percent to 15,250 yuan a ton.

(Eastday)