illuminem summarizes for you the essential news of the day. Read the full piece in The Financial Times or enjoy below 

🗞️ Driving the news: Some of the world's largest mining companies, such as Anglo American, have become increasingly pessimistic about a sustained rally in global commodity prices in 2021 due to a lackluster recovery in China, which resulted in a drop in H1 earnings
• The company cut dividends by more than half to $700 million following a decrease in H1 core earnings of just over 40% to $5.1 billion

🔭 The context: The earnings slump took place amid a 19% decrease in the value of crucial commodities such as iron ore, copper, and coking coal, in addition to the strain from inflation
• Duncan Wanblad, CEO of Anglo American, conveyed his astonishment at the sluggish recovery in China, which he blamed on the persisting repercussions of the Covid pandemic leading to diminished demand

🌎 Why it matters for the planet: The mining sector's health is crucial to many industries and global economies
• A sustained dip in commodity prices could lead to decreased profitability for mining companies, potential job losses, and economic challenges in countries reliant on mining exports

⏭️ What's next: The future direction of commodity prices, such as iron ore prices, may depend on the state of China's "extremely soft property market", according to Peter Cunningham, Rio Tinto's CFO

💬 One quote: "It's more likely for commodity prices to bottom out and rally early next year rather than later this year quite honestly" (Duncan Wanblad, CEO of Anglo American) 

📈 One stat: Despite the prevailing conditions, Goldman Sachs analysts have upgraded their six-month copper price forecast by 3% to $9,500 per tonne, compared with the current price of $8,600 per tonne

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