Oil prices fell about 1pc on Monday, while China's iron ore and coke prices rose on expectations for increased demand for both steelmaking inputs.

The Reserve Bank of Australia is scheduled to release its July policy meeting minutes later on Tuesday.

The local share price index futures fell 0.08pc, or 5 points, to 6,592, a 61-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.65pc on Monday.

New Zealand's benchmark S&P/NZX 50 index rose 0.2% at 2210 GMT.