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METALS-Copper rebounds as sentiment improves

MANILA, June 10 (Reuters) - Copper prices rose in early Asian trading on Monday following eight straight weekly losses, after Washington struck a deal to avert a tariff war with Mexico, boosting sentiment on trade and helping ease concerns about a global slowdown.

Data on Monday showed that despite higher U.S. tariffs, China's exports unexpectedly returned to growth in May, but imports fell in a further sign of weak domestic demand that could prompt Beijing to step up stimulus measures.

FUNDAMENTALS

* Three-month copper on the London Metal Exchange was up 0.4% at $5,824 a tonne by 0217 GMT. The benchmark fell 0.2% on Friday and had posted a weekly loss of 0.5%.

* The most-traded copper contract on the Shanghai Futures Exchange edged up 0.4% to 46,260 yuan ($6,671.76) a tonne, as Chinese markets reopened after a three-day weekend.

* The United States and Mexico struck a deal on Friday to avert a tariff war, with Mexico agreeing to rapidly expand a controversial asylum program and deploy security forces to stem the flow of illegal Central American migrants.

* A highly anticipated late June meeting between U.S. President Donald Trump and Chinese President Xi Jinping has some parallels with their Buenos Aires summit last December that postponed a tariff hike, U.S. Treasury Secretary Steven Mnuchin said on Saturday.

* Group of 20 finance leaders on Sunday said that trade and geopolitical tensions have "intensified," raising risks to improving global growth, but they stopped short of calling for a resolution of a deepening U.S.-China trade conflict.

* International Monetary Fund Managing Director Christine Lagarde on Sunday called on the Group of 20 major economies to prioritize resolving trade tensions to mitigate risks to global growth.

* China summoned global technology companies for talks last week following last month's U.S. ban on selling technology to China's Huawei Technologies Co Ltd, two people familiar with the matter told Reuters on Sunday.

* Unions at Chile's Chuquicamata copper mine expressed disappointment in state-run miner Codelco's latest contract offer on Thursday but agreed to extend negotiations in hopes of averting a strike.

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MARKETS NEWS

* U.S. stock futures jumped on Monday after a migration deal between the United States and Mexico late last week to avert a tariff war added to a weak U.S. job data which cemented expectations of Federal Reserve rate cuts.

DATA/EVENTS

0400 Indonesia Inflation YY May

0830 UK GDP Est 3M/3M April

0830 UK GDP Estimate MM YY April

0830 UK Manufacturing Output MM April

China Exports YY May

China Imports YY May

China Trade Balance USD May

PRICES

Three month LME copper

Most active ShFE copper

Three month LME aluminum

Most active ShFE aluminum

Three month LME zinc

Most active ShFE zinc

Three month LME lead

Most active ShFE lead

Three month LME nickel

Most active ShFE nickel

Three month LME tin

Most active ShFE tin

ARBS

($1 = 6.9337 yuan)

(Reporting by Enrico dela Cruz; editing by Richard Pullin)