BEIJING, Feb 14 (Reuters) - London copper prices edged higher for a second session in early Asian trade on Thursday as investors awaited their cue from the latest trade data from top metals consumer China and the Sino-U.S. trade talks in Beijing. China is due to report its copper import and aluminium export numbers for January later in the day.

FUNDAMENTALS

COPPER: Three-month copper on the London Metal Exchange was up 0.3 percent at $6,142.50 a tonne, as of 0115 GMT, extending a 0.3 percent gain from the previous session.

SHFE COPPER: The most-traded March copper contract on the Shanghai Futures Exchange also added 0.3 percent to 48,310 yuan ($7,146.66) a tonne.

TRADE: U.S. Treasury Secretary Steven Mnuchin said on Thursday he was "looking forward" to trade talks with China as the two countries were set to begin formal high-level discussions in Beijing.

ZINC: Floods in Australia's Queensland state are set to disrupt the rail delivery of zinc exports to the northern port of Townsville, with the line likely to be out of action for at least a month, analysts said on Wednesday. The metal used to galvanise steel rose by 0.4 percent in London after ending down 0.3 percent in the previous session.

SOUTH32: The world's largest manganese miner South32 Ltd on Thursday posted an 18 percent rise in half-year underlying profit as a surge in metallurgical coal output and stronger commodity prices helped boost its bottom-line.

MARKETS NEWS

Asian stock markets started in a cautious mood as investors hoped for progress in the latest Sino-U.S. tariff talks while bracing for China trade data that are expected to show further falls in both exports and imports.

        
DATA/EVENT AHEAD (GMT)
*0200 China          Prelim Trade Jan
0700  Germany     GDP Flash Q4
1000  Euro Zone      GDP Flash Estimate Q4
1330  U.S.          Initial Jobless claims w/e Feb. 9
1330  U.S.          PPI Final Demand Jan
1330  U.S.          Retail Sales Dec
1500  U.S.          Business Inventories Nov
Bank of England policymaker Jan Vlieghe to deliver a speech on
the outlook for the economy in Britain and globally
* No precise release time    
       
 PRICES    

 BASE METALS PRICES                      0115 GMT
 Three month LME copper                    6142.5
 Most active ShFE copper                    48310
 Three month LME aluminium                 1859.5
 Most active ShFE aluminium                 13385
 Three month LME zinc                        2608
 Most active ShFE zinc                      21460
 Three month LME lead                      2022.5
 Most active ShFE lead                      16730
 Three month LME nickel                     12395
 Most active ShFE nickel                    98610
 Three month LME tin                        21075
 Most active ShFE tin                      148900
                                                 
 BASE METALS ARBITRAGE                           
 LME/SHFE COPPER             LMESHFCUc3     72.17
 LME/SHFE ALUMINIUM          LMESHFALc3  -1168.31
                                         
 LME/SHFE ZINC               LMESHFZNc3    200.73
 LME/SHFE LEAD               LMESHFPBc3    335.68
 LME/SHFE NICKEL             LMESHFNIc3   3583.57
                                         
 
($1 = 6.7598 Chinese yuan)