Jan 16 (Reuters) - Australian shares are poised to edge lower on Tuesday, weighed down by material stocks, as iron ore and coking coal fell.
Chinese iron ore futures slipped 2 percent on Monday as stockpiles of the steelmaking commodity at China's ports surged to the highest since at least 2004, with weaker steel prices also adding pressure. The local share price index futures inched down 0.1 percent, or 9 points, to 6017, a 60.1-point discount to the underlying S&P/ASX 200 index close. The benchmark closed up 0.1 percent on Monday.
New Zealand's benchmark S&P/NZX 50 index rose 0.3 percent in early trade.
For a summary of overnight action across global markets, double click on For a digest of the day's business stories in Australiannewspapers, double click on (Reporting by Christina Martin in Bengaluru; Editing by Alison Williams)
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