The Australian share market has closed two per cent lower, with mining and energy stocks copping another hammering amid fresh falls in commodity prices.

At the close on Monday, the benchmark S&P/ASX200 index was 105.3 points, or 1.98 per cent, lower at 5,207.7, while the broader All Ordinaries index was down 107.4 points, or 2.03 per cent, at 5,190.7, according to preliminary figures.

On the ASX 24, the December share price index futures contract was 120 points lower at 5,218, with 38,153 contracts traded.