US copper off highs

Copper hit a one-week high before settling off its peaks on Wednesday as the market's initial fervour to cheap loans for European banks faded as it became clear the move offered little hope for the region's debt crisis. In New York, the most-active US copper futures contract, settled up 2.50 cents, also about 0.7 percent, at $3.3945 a lb. It surged earlier to $3.4370 - a high since December 13.
Zinc, used in galvanising, closed at $1,851 from $1,838, while tin finished at $19,200 from $18,695. Battery material lead ended at $1,967 from $1,937 and stainless steel ingredient nickel closed at $18,975 from $18,380.