Buyers lack conviction and the view from the factory floor remains cautious as margins are suppressed and profits wither.

Indonesia lowered most of its monthly coal benchmark prices for September, while raising the price for medium-rank coal.

According to Fitch Ratings, the financial profiles of miners will remain resilient in the short to medium term as commodity prices remain above mid-cycle levels.

Gold has been vexed in recent months by the US dollar soaring again. Its latest blast higher prematurely truncated a resurging gold upleg again.

Six-month historical gold volatility slumped to the lowest since February 2020 on Friday.

The STOXX Europe 600 mining index has fallen 15% this year, making it the worst performing sector in the region by some margin.

The rally has been driven by some signs that China's beleaguered property sector may be starting to turn around.