Iron ore futures prices remained stable this Monday. Investors are assessing the cost impact of rising energy prices and a recovery in steel demand in China, the world's top consumer, against a backdrop of high port inventories.

The most-traded iron ore contract on China's Dalian Commodity Exchange (DCE) was up 0.37% at 815.5 yuan ($117.84) per metric ton, as of 02:19 GMT.

The benchmark iron ore price for May delivery on the Singapore Exchange was largely unchanged at $106.05 a ton as of 02:09 GMT.

Prices for the key steelmaking ingredient received some support from rising costs fueled by soaring energy prices, even as they were broadly unaffected by immediate shocks from the prolonged Middle East conflict.

Iron ore inventories at 47 major Chinese ports reached a record high of 179 million tons earlier this month before falling back to 177 million tons in the week ending March 27, according to data from consultancy Mysteel.

Coking coal and coke, other steelmaking ingredients, advanced 0.21% and 0.4% respectively.

Benchmark steel prices on the Shanghai Futures Exchange rose.

Rebar rose 0.61%, hot-rolled coil gained 0.3%, wire rod was up 0.27%, and stainless steel added 0.14%.