Hunan Valin forecast 2007 profit will rise to 1.1 billion yuan from an estimated 850 million yuan should the company complete the share sale this year.

China Minsheng Banking Corp, the nation's first privately controlled lender, added 0.18 yuan, or 1.6 percent, to 11.16 yuan.

The lender said its board will meet in mid-March to decide on selling shares overseas. The sale would raise less than the bank's domestic offering in December 2000, Chairman Dong Wenbiao said yesterday in Beijing.

Separately, the lender said it is close to an agreement with Airbus SAS on setting up a leasing company to take advantage of growth in China's airlines.

Copper futures fell 1.4 percent to US$2.6705 a pound in New York, the lowest since February 21, on speculation that a slide in equity markets and a US housing slump will erode demand for the metal.

Anhui Tongdu Copper, China's second-largest copper producer by output, lost 0.16 yuan, or 1.7 percent, to 9.50 yuan. Yunnan Copper Industry Co, the third largest, retreated 0.37 yuan, or 2.3 percent, to 15.95 yuan.

"The recent slump in the copper price has had a negative impact on copper stocks in China,'' said Zhang Lei, a metals industry analyst at China Merchants Securities Co in Shenzhen.

"Earnings growth for copper producers may be slower in the first quarter than the last quarter of 2006."

Gold producers also declined after futures for the metal lost 0.8 percent to US$639.20 an ounce in New York, erasing this year's gains. Zhongjin Gold Corp, China's largest publicly traded gold miner by market value, fell 1.01 yuan, or 3.3 percent, to 29.71 yuan. Shandong Gold Mining Co, the second largest, dropped 0.31 yuan, or 0.7 percent, to 41.69 yuan.

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