Copper drifted lower on Wednesday, retreating from the 20-month high hit a day earlier, as market players questioned whether prices around $8,000 a tonne were justified by supply and demand fundamentals.

Also pressuring dollar-priced metals, the U.S. currency strengthened against the euro on renewed concerns about Greece's debt crisis.

Copper CMCU3 for three months delivery on the London Metal Exchange ended the day at $7,945 a tonne, from $7,990 on Tuesday, when the metal used in power and construction touched $8,010, its highest since August 2008.

In New York, copper for May delivery HGK0 closed with 1.95 cent losses at $3.5975 per lb on the NYMEX's COMEX division, remaining in a fairly narrow range throughout the session. Prices fell short of a 21-month peak set on Tuesday.

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