China said to order state enterprises to limit exposure to overseas commodities markets

China reportedly looks to expand oversight of domestic firms' commodities trading in overseas markets

This is another step by China in trying to rein in soaring commodities prices as the state-owned Assets Supervision and Administration Commission is said to have ordered state enterprises to control risk and limit their commodities exposure in overseas markets.

The sources cited in the report by Bloomberg also add that the regulator has not ruled out further measures, including those targeting specific companies.

Well, there already has been a recent cooling off period in broader commodities with the likes of copper and lumber tumbling back to reality but it remains to be seen how much of this latest correction cycle can be sustained in the bigger picture of things.