Steel and iron ore futures in China steadied on Thursday, while other commodities fell as a key Chinese exchange stepped up measures to combat speculative froth behind a recent market surge.
Financial investors have charged into Chinese commodities futures this year, driving up contracts including iron ore, rebar, cotton and even eggs, leading many to warn of similarities with a boom in the country's stock markets, which reversed into a sharp crash last summer.
This week has seen a marked pullback as exchanges raised the cost of trading to avoid mirroring the outcome in stocks.
Coking coal futures were the hardest hit on Thursday, falling by the downside limit of 6 percent, after the Dalian Commodity Exchange imposed higher transaction fees for the fourth time in a week.
"In general, there will still be some volatility, but not as much as we have seen recently because there's more vigilance from the exchanges," said Helen Lau, analyst at Argonaut Securities in Hong Kong.
The Dalian exchange said the series of steps it took this week were meant to reduce speculation and market risks.
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