* Dalian iron ore extends losses into fourth day
* SGX iron ore slightly recovers after 4-day slump
* Rio Tinto warns curbs lockdowns to put global recovery at risk
* Decline in global steel demand seen less than expected
By Enrico Dela Cruz
MANILA, Oct 16 (Reuters) - China's iron ore futures slipped on Friday and were on track for their first weekly decline in three, pressured by rising portside stockpiles in the world's top steel producer and dimming global demand recovery prospects for steel products.
The most-traded January 2021 contract for the steelmaking ingredient on China's Dalian Commodity Exchange DCIOcv1 was down 0.4% at 787 yuan ($117.09) a tonne by 0254 GMT, extending losses into a fourth straight session and was on course for a weekly decline of more than 4%.
Iron ore's front-month November contract on the Singapore Exchange SZZFX0 edged up 0.1% to $114.21 a tonne, after a four-day slump, but was also heading for a weekly loss.
Rio Tinto Ltd RIO.AX RIO.L warned that a resurgence in coronavirus cases was putting global economic growth at risk, and that steel production outside China has sharply dropped, even as stimulus measures prop up demand in the top consumer. lockdown measures to stem the spread of the virus in Europe are threatening to plunge the region back into recession after a brief respite over the summer, while disputes among policymakers risk delaying much-needed stimulus," analysts at ING said in a note.
Rio Tinto, the world's largest iron ore miner, however maintained its full-year shipment forecast of between 324 million tonnes and 334 million tonnes.
The coronavirus-related decline in global steel demand this year though will be less than expected at 2.4% after a buoyant recovery in China, according to the World Steel Association. iron ore port inventory is piling up due to a sluggish global steel demand, hitting a seven-month high of 123.6 million tonnes last week, SteelHome consultancy data showed. SH-TOT-IRONINV
Construction steel rebar on the Shanghai Futures Exchange SRBcv1 rose 0.3%, while hot-rolled coil SHHCcv1 slipped 0.2% and stainless steel SHSScv1 dropped 0.1%.
Dalian coking coal DJMcv1 fell 0.8%, while coke DCJcv1 gained 0.1%.