Sept 5 (Reuters) - Australia shares are likely to open marginally higher on Tuesday, as investors await the Reserve Bank of Australia policy meet later in the day, while material stocks are expected to be up on gains in commodity prices.
According to a Reuters poll of economists, Australia's central bank is expected to keep its cash rate at a record low of 1.5 percent at its monthly policy meeting. commodities, Chinese steel rebar futures jumped to their highest in four and a half years, while nickel and copper hit multi-year highs amid signs of strong Chinese growth. IRONORE/ MET/L
The local share price index futures YAPcm1 rose 0.2 percent to 5,691, an 11-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 0.4 percent on Monday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.09 percent in early trade.