Nov. 7 (Bloomberg) -- Codelco, the world’s biggest copper producer, will raise the surcharge on sales to Japan and South Korea next year as demand from China increases metal prices.

The premium will be $75 a metric ton in 2010 for Japan compared with $65 this year and $74 for South Korea versus $64 this year, said two company executives who received a copy of the notice. The charges are added to London immediate-delivery prices to reflect regional supply and demand and to cover shipping and insurance costs.

To contact the reporter for this story: Jae Hur in Tokyo at jhur1@bloomberg.net

Last Updated: November 8, 2009 22:44 EST