Lead advanced in London, topping gains this month on the London Metal Exchange, on signs of increased battery demand in parts of Europe and China. Copper, aluminum and nickel declined. Inventories of lead that are scheduled to be withdrawn from warehouses increased 23 percent, signaling more demand, an LME report showed today. Total inventories of the metal, mostly used in car batteries, have dropped 48 percent from last year’s peak even as aluminum supplies rose to a record and copper stockpiles jumped to the highest in five years. “The lead fundamentals aren’t as bad as some of the other metals, because there is some demand in Europe and China,” said Gayle Berry, an analyst at Barclays Capital in London and last year’s most accurate forecaster of lead prices. “In the other metals, there’s literally no physical activity.” Lead for three-month delivery gained $20, or 1.8 percent, to $1,160 a metric ton at 11:07 a.m. on the LME. Prices have climbed 16 percent in January, heading for the first monthly advance since July. Aluminum dropped $14.75, or 1.1 percent, to $1,351.25 a ton, and copper fell $53, or 1.6 percent, to $3,177 a ton. Aluminum is down 12 percent for January, and copper is up 3.5 percent. Nickel fell $300 to $11,100 a ton, tin declined $50 to $10,800 a ton, and zinc dropped $16 to $1,104 a ton.

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