Codelco chief urges China to restock on low copper price

As the price of copper drops to a 14-month low on speculation of sluggish demand for industrial metals, the chief executive of Codelco — the world’s largest copper producer — said buyers in China should take advantage, Bloomberg reported:

“I hope that they will start restocking again,” Diego Hernandez, chief executive officer of Santiago-based Codelco, said today in an interview in London. “They should, because when you look at next year’s supply-and-demand equation it’s very tight.”