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Copper Drops as Europe Debt Concern Worsens Demand Outlook

Copper futures declined amid concern that the euro-zone nations will be unable to control the sovereign-debt crisis, damping the outlook for the global economy and curb demand for raw materials.

Three-month copper on the London Metal Exchange dropped as much as 1 percent to $8,870 a metric ton, the lowest intra-day level since Aug. 25, and traded at $8,890.25 as of 3:32 p.m. Seoul time. December-delivery copper on the Comex in New York dropped 2.4 percent to $4.0275 a pound.