LONDON, April 10 (Reuters) - Aluminium prices hit their highest in 14 months on Wednesday and other industrial metals touched new peaks as funds piled into the sector on optimism over the global economy.

Benchmark three-month aluminium on the London Metal Exchange (LME) gained 0.8% to $2,480.50 a metric ton by 1005 GMT, its highest since Feb. 10 last year.

LME three-month copper was up 0.7% at $9,479.50 a ton, not far from the 14-month high touched on Tuesday.

Investors were upbeat on metals demand after recent data showing that manufacturing activity expanded for the first time in six months in China and for the first time in 1-1/2 years in the United States.

"That is something that has inserted some optimism in the market, and that has been taken up by hedge funds," said Carsten Menke, analyst at Julius Baer in Zurich.

"The cyclical swings that are implied by these leading indicators are quite reliable. Given how resilient the U.S. economy has been and also how other parts of the world are faring, there's well-placed optimism in the market."

Bullish positioning in U.S. Comex copper futures had increased, but was far from extreme, with the market likely to pause in the short term, he added.

"We're not yet in the phase of a manufacturing boom, so there's a bit of consolidation warranted for copper," Menke said.

LME tin jumped 4.5% to $32,575 a ton for its highest in 22 months after stockpiles dropped to their lowest in nine months and speculators covered bearish positions.

The most-traded May tin contract on the Shanghai Futures Exchange (SHFE) closed 5.8% up at 252,210 yuan ($34,869.35) a ton.

LME tin inventories have dropped 44% since the start of the year to 4,185 tons, the lowest level since July last year.

The LME cash contract for tin was traded at a $26 a ton premium to the three-month contract on Tuesday, indicating tightness in near-term supplies.

In other LME metals, nickel advanced 1.4% to $18,480 a ton, zinc climbed 2.4% to its strongest since April last year at $2,775 while lead rose 1.1% to $2,184 for its highest since Jan. 24.

For the top stories in metals, click ($1 = 7.2330 yuan) (Reporting by Eric Onstad Additional reporting by Mai Nguyen in Hanoi Editing by David Goodman)