Copper surged by the most in more than 16 years as metals extended a dramatic start to the year fueled by a wave of intense speculative trading in China. Chinese investors are piling into metals as they ride a powerful wave of momentum that has lifted everything from tin to silver to record highs. The surge in copper took place at a time of day when Chinese traders dominate flows, with prices on the London Metal Exchange rising more than 5% in less than an hour starting at 2.30 a.m. London time. The speculative frenzy has driven a surge in volumes on the Shanghai Futures Exchange, China’s top commodities trading platform. Other metals rallied, with aluminum rising and zinc advancing in London.