* Dollar falls, U.S. data mixed * OECD demand remains weak * Aluminium stocks approach record highs (Recasts, updates prices and comments) By Rebekah Curtis and Humeyra Pamuk LONDON, Nov 25 (Reuters) - Copper climbed towards a 14-month high on Wednesday due to the falling dollar but rising inventories highlighting weak underlying demand kept a lid on prices. The U.S. currency fell to its lowest in 15 months against a basket of currencies, pushing gold to a fresh record high, which boosted shares of miners such as BHP Billiton (BLT.L: Quote, Profile, Research, Stock Buzz) and Anglo American (AAL.L: Quote, Profile, Research, Stock Buzz). [FRX/][.EU] Copper MCU3 for three-months delivery on the London Metal Exchange was $6,935 a tonne by 1444 GMT, after rising to a session high of $6,975 a tonne and versus $$6,870 a tonne at the close on Tuesday. The metal, used extensively in construction, hit $7,010 a tonne on Monday, its highest since September 2008. "Dollar weakness is the biggest player at the moment," said analyst Carl Firman at Virtual Metals. "Euro/dollar rising above 1.50 level has bolstered the price. I believe this is a continuing trend that we will probably see until the end of the year." The dollar fell to a 15-month low after the decline in weekly jobless claims and a rise in personal consumption improved the outlook for the U.S. economy. [ID:nN25346193] Apart from currencies, investor interest is another major factor driving the metals higher. Investors see metals as an asset diversifier and bet on demand recovery and copper's supply tightness, analysts say. "Sentiment is very upbeat," Eugen Weinberg, an analyst at Europe's Commerzbank, said. "The market believes the recovery next year will be sustainable and demand will increase." But Weinberg added that outside China industrial metals demand remains weak. STOCKS CLIMB Analysts also warn that buying by the world's top copper consumer, China, which has helped copper prices rise by 125 percent so far this year, is starting to cool. Stocks of copper at LME warehouses rose to their highest level since late April, up 1,950 tonnes to 431,600 tonnes. "Easing Chinese buying is likely to cap prices in the near term, as demand from the world's largest consumer cools down after the record levels we witnessed this summer," VTB Capital said in a note. "Domestic prices and swollen stockpiles discouraged higher imports in October, while we expect the trend to persist in November and December." Aluminium MAL3, used in transport and packaging, rose to $2,028 from $2,024. Aluminium stocks jumped 8,100 tonnes to near 4.6 million tonnes, just 34,000 tonnes below a record high above 4.6 million tonnes hit in September. "All LME stock levels across the complex are now at higher levels than they were at the end of October," Barclays Capital said in a note. "This offers clear evidence that the weakening trend in Chinese import demand has not yet been counterbalanced by a recovery in OECD demand, resulting in mild oversupply across most of the complex." Stainless steel ingredient nickel MNI3 traded at $16,825 a tonne from $16,750, zinc MZN3 at $2,273 from $2,236, lead MPB3 at $2,370 from $2,333 and tin MSN3 was at $15,000 from Tuesday's last bid at $14,950 a tonne. Metal Prices at 1444 GMT Metal Last Change Pct Move End 2008 Ytd Pct move COMEX Cu 313.60 2.40 +0.77 139.50 124.80 LME Alum 2023.00 -1.00 -0.05 1535.00 31.79 LME Cu 6920.00 50.00 +0.73 3060.00 126.14 LME Lead 2367.00 34.00 +1.46 999.00 136.94 LME Nickel 16775.00 25.00 +0.15 11700.00 43.38 LME Tin 14925.00 -225.00 -1.49 10700.00 39.49 LME Zinc 2270.00 34.00 +1.52 1208.00 87.91 SHFE Alu 15655.00 95.00 +0.61 11540.00 35.66 SHFE Cu* 54680.00 800.00 +1.48 23840.00 129.36 SHFE Zin 18315.00 155.00 +0.85 10120.00 80.98 ** 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 Sue Thomas) ((humeyra.pamuk@reuters.com; Reuters Messaging: humeyra.pamuk.reuters.com@reuters.net; +44 20 7542 9736))

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