LONDON, June 8 (Reuters) - Aluminium gained on Monday as a rise in material tagged for delivery hinted at stronger demand and softened the blow of yet another record high in stocks. But copper led a sell-off in other industrial metals, down with shares as economic concerns persisted across markets. At 1417 GMT, copper for three-months delivery Aluminium traded at $1,633 from $1,572 on Friday. Earlier the metal used in transport and packaging hit a session high of $1,638, its highest since Jan. 7. Offering some respite in the over-supplied aluminium market, cancelled warrants -- metal tagged for delivery -- rose by about a third to 109,700 tonnes from 81,375 tonnes. But stocks jumped 38,075 tonnes to a record near 4.3 million tonnes. Aluminium prices are up 11 percent so far in June, having been boosted the week before by two consecutive days of inventory declines -- the first drawdowns since April 20. "At first glance the (rise in stocks) looks bad, but at second glance not quite as bad, because cancelled warrants rose, which indicates an increase in metal set to be withdrawn from the market," said David Thurtell, an analyst at Citigroup. "There's some hope that perhaps the worst is over on the (stocks) rise," he said. The economic downturn's crushing effect on the auto sector has battered aluminium demand, but a recent series of improving economic data has helped support prices. BETTER U.S. DATA Last week's better than expected U.S. jobs data has reinforced perceptions that the recession could be easing, which could in turn signal a better outlook for industrial metals demand. "It's a staggering improvement," VTB Capital said of the jobs data, in a note. "This is not to say things are all rosy again ... But we have seen a gradual improvement in macro data and most importantly sentiment continues to improve." Copper, used in power and construction, hit a 7-1/2-month high of $5,145 a tonne last week following better data. A sovereign downgrade for Ireland hit the euro but added to the dollar's broad gains to put a dampener on the red metal. A stronger U.S. currency makes metals priced in dollars more expensive for holders of other currencies. "In the absence of a clear trend, the base metals are again looking towards the FX markets for direction," said Standard Bank analyst Leon Westgate. "A stronger dollar has put much of the complex under pressure...aluminium continues to build on its recent strength and appears to have temporarily broken free from the other metals." Zinc traded at $1,559.25 from $1,565 on Friday, battery material lead was quoted at $1,650 from $1,670. Tin traded unchanged at $14,775 and nickel at $14,375 from $14,500. Metal Prices at 1420 GMT Metal Last Change Percent Move End 2008 Ytd Percent move COMEX Cu 225.90 -2.20 -0.96 139.50 61.94 LME Alum 1628.00 56.00 +3.56 1535.00 6.06 LME Cu 4962.00 -28.00 -0.56 3060.00 62.16 LME Lead 1645.00 -25.00 -1.50 999.00 64.66 LME Nickel 14325.00 -175.00 -1.21 11700.00 22.44 LME Tin 0.00 -14775.00 -100.00 10700.00 -100.00 LME Zinc 1556.00 -9.00 -0.58 1208.00 28.81 SHFE Alu 13295.00 -135.00 -1.01 11540.00 15.21 SHFE Cu* 40410.00 -690.00 -1.68 23840.00 69.51 SHFE Zin 13295.00 -120.00 -0.89 10120.00 31.37 ** 1st contract month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07 (Editing by James Jukwey)

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