* Spain gets 100 bln-euro package for its banks * China's copper imports post surprise rise in May (Updates prices; adds quotes, details) By Carrie Ho and Manolo Serapio Jr SHANGHAI/SINGAPORE, June 11 (Reuters) - London copper futures rose almost 3 percent on Monday, rebounding from last week's near six-month lows, after Europe agreed on a $125 billion bailout package for Spain's distressed banks, while surprisingly strong import data from China lent further support. Investors trooped back into risk assets after euro zone finance ministers agreed to lend Spain up to 100 billion euros ($125 billion) for its bank rescue fund, fuelling hope that the life line would help contain Europe's major debt crisis. Also supporting sentiment was weekend data that showed China's copper imports defied expectations of a fall to climb nearly 12 percent from April - giving hope that demand from the world's top consumer could be even stronger in the near term following the recent slump in prices. Three-month copper on the London Metal Exchange rose nearly 3 percent to a session high of $7,506.75 a tonne, rebounding from a near six-month low of $7,233.25 on Friday. By 0347 GMT, it was up 2.4 percent at $7,470. In Shanghai, the most-active September copper contract climbed 3.7 percent to a session high of 54,380 yuan ($8,600) a tonne by its midday close. "It was macroeconomics that lifted the markets this morning, as the EU stepped in to help Spain's banks. All eyes are still on Greece's upcoming elections but investors' worries over the euro zone has eased in the short term," said Orient Futures Derivatives department director Andy Du. "China's data over the weekend was also very encouraging, defying the naysayers. Chinese copper demand is still lacklustre but China does need imports and after running down inventories for some time, consumers have to import and restock." Another trader said the improved LME-ShFE arbitrage in May gave long-term contract buyers and those using copper for financing an opening to import. "Copper import losses fell to just around $140 a tonne at some point in May. The level was not ideal, but better than the $500-700 losses in the previous months," said a Shanghai-based physical trader. Traders have also said that a global buyer expecting higher prices in China in coming months had shipped a relatively large shipment of refined copper from the United States to Shanghai in late March, which could have arrived in the city in May. Copper restockers would also find more incentive to import as China's refined copper output fell 1.4 percent from a month earlier to a three-month low in May, with some smelters taking the chance to carry out maintenance as consumption remained sluggish. But the boost from lower output in May could be temporary as market players said they expect production to pick up in June. Still, the increased copper imports along with other trade data should ease worries about slow demand in China that, along with a simmering debt crisis in the euro zone, had purged London copper's gains earlier this year. London copper is down 1.7 percent so far this year after gaining as much as 15 percent when it hit this year's peak of $8,765 in February. All base metals were up on the LME and ShFE, except LME nickel which slipped 0.4 percent in a technical correction after bucking the trend on Friday when it rose when all other contracts fell. Traders said investors bought the metal after prices ducked under $16,000 on Wednesday, its cheapest level since December 2009. "Trading for nickel has been thin and volatile. Friday's rise could be due to some short-covering after prices dipped to multi-year lows," said one Shanghai-based trader with an international firm. Looking forward, analysts said weak global demand for stainless steel will keep pressuring nickel prices. But in the short term, they see some slight support from dwindling Chinese port stock levels due to lower import appetite and recent supply disruptions of nickel pig iron from Indonesia. "I am bearish on nickel over the longer term, but there can be a temporary lift to prices soon as there are signs that Chinese port stocks are falling. However, we are likely to see effects of this supply-side boost only in a few weeks' time," Shanghai Metals Market analyst Amy Chen said. Base metals prices at 0347 GMT Metal Last Change Pct Move YTD pct chg LME Cu 7470.00 175.00 +2.40 -1.71 SHFE CU FUT SEP2 54380 1350 +2.55 -2.25 LME Alum 1995.00 10.00 +0.50 -1.24 SHFE AL FUT SEP2 15915 50 +0.32 0.47 HG COPPER JUL2 337.05 8.55 +2.60 -1.91 LME Zinc 1898.00 30.00 +1.61 2.87 SHFE ZN FUT SEP2 14865 155 +1.05 0.47 LME Nickel 16878.00 -72.00 -0.42 -9.79 LME Lead 1915.00 13.00 +0.68 -5.90 SHFE PB FUT 15065 100 +0.67 -1.47 LME Tin 20000.00 300.00 +1.52 4.17 LME/Shanghai arb 1025 Shanghai and COMEX contracts show most active months ^ LME 3-m copper in yuan, including 17 pct VAT, minus SHFE third month

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