* China iron ore port stocks near 13-yr high hit in March
* Spot iron ore fell 10.3 pct last week, biggest loss in a
By Manolo Serapio Jr
MANILA, May 8 Iron ore futures in China slipped
on Monday, extending last week's losses as supply at the
country's ports rose, nearly matching the 13-year high reached
in March, underlining the slow demand for the steelmaking raw
But a rebound in Chinese steel prices capped losses in iron
ore, with other raw material coking coal steadying.
The most-traded iron ore on the Dalian Commodity Exchange
was off 0.4 percent at 465.50 yuan ($67) a tonne by
0236 GMT. It declined 8.2 percent last week, its biggest such
decline since late December.
The inventory of imported iron ore at 46 Chinese ports rose
to 131.95 million tons on Friday, up 1.4 million tonnes from a
week ago, according to SteelHome. The stockpiles hit 132.45
million tonnes in March, the most since SteelHome began tracking
it in 2004. SH-TOT-IRONINV
Rising supply and the weakness in steel prices, spurred by
worries over softer consumption, have dragged down iron ore,
said Commonwealth Bank of Australia analyst Vivek Dhar.
"Chinese steel mills also refrained from buying iron ore on
speculation that production cuts will be introduced later this
week ahead of the One Belt One Road conference," said Dhar.
Leaders from 28 countries will gather in Beijing on May 14
to 15 for talks on what China formally calls the "One Road, One
Belt" plan that envisions expanding trade and energy links
between Asia, Africa and Europe underpinned by billions of
dollars in infrastructure investment.
China typically orders industrial plants to cut or limit
production to help clear the skies ahead of a major event such
as when it hosted the G20 Summit in Hangzhou last year.
Iron ore prices may find support from a pickup in steel
demand in China later in the year, said Dhar.
"Chinese steel demand is likely to remain supported as
policy makers look to ensure stable economic growth ahead of
elections later in the year. In particular, policy makers have
targeted infrastructure investment," he said.
The most-active rebar on the Shanghai Futures Exchange
was up 1.7 percent at 2,982 yuan per tonne, after
dropping 4.4 percent last week. Coking coal on Dalian exchange
was nearly flat at 1,032 yuan a tonne.
Iron ore for delivery to China's Qingdao port .IO62-CNO=MB
fell 5.3 percent to $61.73 a tonne on Friday, the lowest since
October 2016, according to Metal Bulletin.
The spot benchmark lost 10.3 percent last week, the most
since May last year.
($1 = 6.9039 Chinese yuan)
(Reporting by Manolo Serapio Jr.; Editing by Christian