Shares in Australian mining companies have experienced a decrease, a continuation of a trend that started in mid-July.

These companies are currently facing a decline of up to 1.98%.

Analyst Tina Teng of CMC points to China’s dwindling spending power as the catalyst for this slow down.

This has caused a consequent drop in commodity prices, particularly within the industrial metals and dairy sectors, adversely impacting economies across APAC, including Australia and New Zealand.

Among the affected businesses is coal mining company New Hope Corp (ASX:NHC), whose shares have decreased by 1.06%.

Furthermore, shares of Whitehaven Coal (ASX:WHC) have slipped by 0.9%.

The iron ore giants Fortescue (ASX:FMG) and Rio Tinto (ASX:RIO) are not exempt from this trend, with their shares declining 1.7% and 2.5% respectively.

Singapore iron ore futures are also under threat, with the possibility of breaching the $100 per metric ton support level on the horizon, as a weak property segment continues to impact trading sentiments.

Despite the current bleak scenario, mining stocks have seen an overall increase of 0.9% YTD, in stark contrast to the benchmark index .AXJO, which has gained 4.28%.

New Hope Corp (ASX:NHC) is an Australian-based coal mining company.