Copper, aluminium seen deflating in 2017 after speculative rallies

London

COPPER and aluminium prices are expected to lose steam this year after speculators pushed up both markets despite surpluses that will persist into 2018, a Reuters poll showed.

Zinc, which has been a favourite of investors, is expected to retain most of its heady gains from last year while nickel may rebound from recent losses, according to analysts' forecasts.

Copper has been the top performer on the London Metal Exchange over the last several months, surging by a fifth since the start of November. Speculators piled in, opti…