The Australian share market has finished lower ahead of Tuesday’s federal budget.

Further falls in metal prices dragged the miners and the market lower, Invast Securities chief market analyst Peter Esho said.

However, mining stocks may receive a boost if Chinese industrial production figures, due out on Tuesday, are better than expected, he added.

“The market is (relatively) flat as all eyes are on the federal budget,” he said.

“China’s industrial production figures due around midday and more chatter of a Chinese stimulus could boost the materials.”

In the resources sector, BHP Billiton had fallen 18 cents to $37.16 but Rio Tinto recovered earlier losses to finish five cents higher at $61.00.

Iron ore miner Fortescue Metals had lost nine cents to $4.72.

Among the major banks, ANZ was four cents lower at $32.68, Commonwealth Bank was 12 cents weaker at $79.38, Westpac dropped four cents to $34.90 and National Australia Bank shed 20 cents to $34.18.

Explosives and fertiliser maker Incitec Pivot finished three cents higher at $2.85 after its half year net profit beat expectations, rising seven per cent to $115.7 million.

Corporate services and leasing group Macmillan Shakespeare added 62 cents after an analyst published a firm opinion that the budget would make no changes to fringe benefits tax rules, CMC Markets analysts say.

KEY FACTS

* At the close on Monday, the benchmark S&P/ASX200 index was 12.4 points, or 0.23 per cent, lower at 5,448.4.

* The broader All Ordinaries index was down 13 points, or 0.24 per cent, at 5,429.

* On the ASX 24, the June share price index futures contract was 19 points lower at 5,436, with 20,257 contracts traded.

* National turnover was 1.26 billion securities worth $2.67 billion.