Iron Ore-Spot prices stagnant as Chinese traders stay quiet

* Prices unchanged since Friday with trading quiet

* Indexes mostly down, reach seven-week low

* Higher stocks, lower demand could force price decline (Adds summary, Shanghai rebar price, futures)

By David Stanway

BEIJING, May 24 (Reuters) - Iron ore prices on the Chinese spot market were largely unchanged on Tuesday, with traders still unwilling to risk making purchases as they try to determine underlying demand in the coming months.

Indian ore with 63.5/63 percent iron content was being offered at $182-185 including freight, according to the Umetal consultancy, unchanged since last Friday, but there were few takers.

"My personal opinion is that the prices being offered are a bit too high right now and the sellers will have to adjust, but they haven't been willing to do so just yet," said a trader based in Shanghai.

Major global price indexes, which are based on Chinese spot market prices, on Monday remained at their lowest point since early April. Metal Bulletin's 62 percent benchmark .IO62-CNO=MB dropping $0.70 to end at $174.55 per tonne and Platts' 62 percent index IODBZ00-PLT dipping $1.50 to $175.50 a tonne.

Steel Index's 62 percent iron ore benchmark .IO62-CNI=SI was unchanged at $174.50 per tonne.