A summary of trading in key commodities markets overseas:
Oil prices have traded mixed after China slashed bank reserves requirements to get credit flowing more easily in the world's largest energy consumer.
West Texas Intermediate for May delivery climbed 64 US cents on Monday to close at $US56.38 a barrel on the New York Mercantile Exchange.
In London, Brent North Sea crude for June delivery, the global benchmark, was unchanged from Friday at $US63.45 a barrel.
China's central bank announced Sunday it was cutting the reserve requirement ratio, the amount of cash that commercial banks must hold in reserve, by one percentage point, the second such move this year to boost lending. The move took effect Monday.
Gold has fallen below $US1,200 an ounce as equities rallied and the US dollar steadied, while traders assessed China's new policy measures to shore up the world's second-largest economy and risks that Greece may default.
Spot gold was down 0.8 per cent at $US1,194.68 an ounce by 1505 EDT (0505 Tuesday AEST), while US gold futures for June delivery fell $US9.40 to settle at $US1,193.70 an ounce.
Spot silver was down 1.7 per cent at $US15.94 an ounce. Platinum lost 1.8 per cent to $US1,143.12 an ounce and palladium fell 1.3 per cent to $US770.00 an ounce.
Copper has jumped to a three-week high after China eased monetary policy to stimulate a slowing economy, only for prices to reverse as hopes of stronger demand receded.
Three-month copper on the London Metal Exchange hit $US6,173 a tonne, the highest since March 26, before closing at $US5,990 a tonne, down one per cent on the previous close.
A firmer US dollar also weighed on metals.
Three-month tin ended down 2.4 per cent at $US14,500 a tonne. Last week the metal used in electronic components tumbled to $US13,600, its lowest since September 2009, on concerns about a supply glut.
Zinc climbed to a session peak of $US2,248 a tonne, the highest since December 5, and ended down 1.6 per cent at $US2,178.
Three-month lead dipped 0.6 per cent to end at $US2,019.
Aluminium ended 0.3 per cent down at $US1,810 and nickel added 2.0 per cent to close at $US12,800.