April 17, 2017 / 10:18 PM / in 7 months

Australia shares expected to edge lower, NZ steady

    April 18 (Reuters) - Australian shares are expected to inch
lower on Tuesday after a long Easter weekend as commodity prices
took a beating on worries over a supply glut.
    Steel and iron ore prices extended losses, after China
produced record steel volume in March, stirring concerns about a
supply glut.           
    Crude oil prices fell on news of rising U.S. shale
production and profit taking following three straight weeks of
gains.     
    The local share price index futures          fell 15 points,
or 0.3 percent, to 5852, a 37.95-point discount to the
underlying S&P/ASX 200 index         close. The benchmark fell
0.8 percent on Thursday.
    New Zealand's benchmark S&P/NZX 50 index         was flat 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 Australian 
newspapers, double click on            

 (Reporting by Hanna Paul in Bengaluru; Editing by Cynthia
Osterman)
  
 
 

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