The smallest size the Options tips come in is 3.50mm, so that would work for your pattern. (Anything smaller doesn't work with the cables, but they do sell fixed circulars as small as 2.00mm with 16", 24" and 32" cables) and I have heard the 32" Knit Picks cables (interchangeable or fixed) are good for Magic Loop.
I have recently bought some of their fixed circs, interchangeables and DPNs.... I love them!
The only "problem" for you with Knit Picks is that they only ship to the US and Canada. You can still order from them just would have to have it shipped to someone in the US or Canada and then have them ship it to you in Australia....
Amy, in Oz!