Prices of Singapore iron ore futures rose on Tuesday, driven by expectations of increased demand as steelmakers in the northern region of China, the top consumer, are set to resume production following the conclusion of its annual parliament meeting.

Iron ore futures edged lower on Wednesday as escalating trade tensions between the U.S. and China pressured prices. However, optimism over rising Chinese steel demand helped cushion the decline. The most-traded May

Singapore iron ore futures experienced an upswing on Tuesday, fueled by optimistic projections of heightened demand from the steel industry. These expectations are tied to the anticipated resumption of production by steelmakers in northern China,

Iron ore futures surrendered early gains to trade lower on Wednesday, as sentiment was spooked by resumed market talks of China's plan of trimming crude steel output to rein in oversupply plaguing the industry.

Iron ore futures extended losses on Tuesday as U.S. tariffs on Chinese imports took effect, adding to market uncertainty. The most-traded May iron ore contract on Chinas Dalian Commodity Exchange (DCE) fell 1.