The Australian share market has closed one per cent lower, with investors pondering mixed signals, including a rise in iron ore prices but a fall in oil prices.

At the close on Tuesday, the benchmark S&P/ASX200 index was 57.2 points, or 1.04 per cent, lower at 5,416.6, while the broader All Ordinaries index was down 54.7 points, or 1.00 per cent, at 5,392.3, according to preliminary figures.

On the ASX 24, the March share price index futures contract was 87 points lower at 5,379, with 19,737 contracts traded.