* China iron ore imports at 96.3 mln T in December
* Shanghai rebar hits two-week low
By Manolo Serapio Jr
MANILA, Jan 13 (Reuters) - Chinese iron ore futures dropped for a fourth session in a row on Wednesday, reflecting concerns over weak demand and excess supply as shipments to China reached a record high in December.
China, the world's top buyer of iron ore, imported 96.27 million tonnes of the steel making commodity last month, customs data showed. That brought 2015 purchases to 952.72 million tonnes, also an all-time high. iron ore imports are usually strong in December as major suppliers Australia and Brazil try to meet their annual shipment targets, said Wang Di, analyst at CRU Group in Beijing.
"I don't think it's a sign of demand recovering, we haven't seen signs of improvement in steel demand. For this year, we expect to see a continued increase in supply from major miners," said Wang.
The most-traded May iron ore on the Dalian Commodity Exchange DCIOcv1 was down 1 percent at 300 yuan ($46) a tonne by midday.
Underlining slow demand for iron ore among Chinese steel producers, stocks of the imported material at the country's ports stood at 93 million tonnes last week, near a seven-month high. SH-TOT-IRONINV
Shrinking Chinese demand and tighter environmental measures are likely to push more steel mills to cut production or be shut for good, traders and analysts say, deepening a glut in iron ore as miners continue to boost output.
Iron ore for immediate delivery to China's Tianjin port .IO62-CNI=SI dropped 2.2 percent to $40 a tonne on Tuesday, according to The Steel Index (TSI), the lowest since Dec. 21.
The bulk commodity resumed its downturn shortly after 2016 began, having rallied to $43.10 a tonne recently on the back of some stabilisation in Chinese steel prices.
ANZ Bank said the renewed weakness in the steel market "leaves iron ore prices exposed to further falls."
Iron ore fell to $37 on Dec. 11, the lowest level recorded by TSI which began compiling data in 2008.
Construction-used rebar was down 0.6 percent at 1,739 yuan a tonne on the Shanghai Futures Exchange SRBcv1 , having touched a two-week trough of 1,735 yuan earlier.
Amid weak demand at home, China's steel exports surged to a record 112.4 million tonnes last year. Exports last month jumped 10.9 percent from November to 10.66 million tonnes. and iron ore prices at 0347 GMT
Contract
Last
Change Pct Change SHFE REBAR MAY6
1739
-11.00
-0.63 DALIAN IRON ORE DCE DCIO MAY6
300
-3.00
-0.99 SGX IRON ORE FUTURES FEB
37.07
+0.27
+0.73 THE STEEL INDEX 62 PCT INDEX
40
-0.90
-2.20 METAL BULLETIN INDEX
41.19
-0.12
-0.29
Dalian iron ore and Shanghai rebar in yuan/tonne Index in dollars/tonne, show close for the previous trading day ($1 = 6.5772 Chinese yuan)