BHP Billiton and Rio Tinto both posted their fifth consecutive session of losses, down 0.2% to $A36.97 and 0.1% to $65.30, respectively.

The S&P/ASX 200 benchmark tracked slightly higher, falling as far as 5295 points this morning before clawing back to a 0.2% stronger close at 5324.

Basic materials returned as one of the poorer performing sectors, down 0.1% on the day.

Trading coincided with reports of new Chinese economic data, suggesting a slide in manufacturing activity and, by extension, a weakening economy for the Asian giant.

Bloomberg tied a 1.4% year-on-year fall last month in China’s producer-price index to a broader slowdown, concern over a build-up of bad loans, the falling yuan and a government strategy to shift from an investment-driven economy to more consumer demand.

Iron ore companies and many mixed metal players remained soft, with Ausquest down 9.5% to 1.9c, Venus Metals down 6.3% to 8.9c and Ironclad Mining down 8.3% to 16.5c after announcing the formal signing of a joint venture agreement with Trafford Resources over manganese rights at the Wilcherry Hill project in South Australia.

Uranium companies, meanwhile, experienced mixed investor interest as the price of the commodity hovered below $US35 per pound, and reports circulated on optimism for the quick development extraction policies in Greenland and other Arctic regions.

Standout moves in the sector including Deep Yellow’s 28.6% jump to A2.7c, Manhattan Corporation’s 8.7% gain to 5c and Energy Metals’ 13.6% fall to 19c.

Other notable movers included north African phosphate developer Celamin Holdings, up 32% to 3.3c, and Philippines-focused gold explorer Red Mountain Mining, which surged a further 47.1% to 2.5c on more high-grade trenching results.