London Metal Exchange cash zinc added another 2% to $US2710.75 per tonne, its highest level since March 2008, and up by 70% this year.

Copper was up by another 2.3% to $5853.50/t, a fresh 16-month high, but nickel and aluminium were slightly lower. Silver entered a bear market, last trading at $US16.32/oz after rising over $20/oz only months ago.

In softer commodities, cocoa decreased $US1 per tonne or 0.04% to 2439 on Wednesday from $2440/t in the previous trading session, tradingeconomics.com reported. Cocoa went down 0.80% during the last week, was down 7.16% during the last month and down overall 26.93% during the last year.

Coffee decreased 0.15c/lb or 0.10% to 157.55 on Wednesday from $157.70/lb in the previous trading session, tradingeconomics.com. Coffee went down 4.69% during the last week, was down 0.22% during the last month but rose 26.14% during the last year.