LONDON, May 14 (Reuters) – An increase in copper stockpiles on Monday pushed down prices of the metal used in power and construction, while lead continued to rise from nine-month lows on fears of tight supply. LEAD: Benchmark lead on the London Metal Exchange was up 1.2 percent at $2,374 a tonne at 1048 GMT. It has risen 6 percent since on May 2 touching $2,241, the lowest since August. TECHNICALS: The metal used in batteries broke above its 50-day moving average at $2,361. It faced fibonacci resistance at $2,411, said brokers Marex Spectron. TIGHTEST MARKET: “Lead from a raw materials side is probably the tightest commodity market out there. There has been a big clampdown on Chinese private sector mining. China is around 60 percent of primary lead supply,” said BMO Capital Markets analyst Colin Hamilton. PRICE OUTLOOK: Prices were likely to hit $2,640 in the third quarter, Hamilton said. SUPPLY: Over 2014-2016 global mined lead supply shrank by roughly 500,000 tonnes, or 10 percent. A Chinese crackdown since last year on industries that are heavy polluters squeezed output further. Consultancy Wood Mackenzie earlier this year forecast a market deficit of 115,000 tonnes in 2018 and 56,000 tonnes in 2019 after a 119,000 shortfall last year. STOCKS: Headline stocks in LME-registered warehouses have fallen one-third since the start of last year to 131,225 tonnes. LEAD TIME SPREAD: However a rise in the discount of cash lead over three-month metal CMPB0-3 to $12 a tonne, the highest since January, suggests there is no immediate shortage of metal. COPPER: LME copper was down 1 percent at $6,872 a tonne after headline stocks in LME warehouses rose 8,900 tonnes to 289,975 tonnes. Inventories had fallen more than 100,000 tonnes since March to just over 280,000 tonnes, while copper prices have moved sideways after reaching a four-year high of $7,312.50 in December. COPPER SCRAP: The effect of Chinese curbs on scrap metal imports introduced this year will be blunted by a rise in domestic scrap production, said Wood Mackenzie consultants Yanting Zhou and Sifang Liu in a note.“Total scrap supply in China will drop by around 100,000 tonnes in 2018, but will return to positive growth in 2019, to rise by approximately 70,000 tonnes,” they said. OTHER METALS: LME nickel was 2.3 percent higher at $14,385 a tonne, aluminium was 0.4 percent lower at $2,278 a tonne, zinc had lost 1 percent to $3,055 a tonne and tin was down 0.2 percent at $20,930 a tonne.