China and commodity boom - some cooling off ahead

The picture of people rushing to buy an apartment, as if they were buying a lottery ticket, seemed quite disturbing. It certainly has also the signs of a real estate bubble and it is fair to ssume that it will burst in the near future - say a maximum of a year or two. But perhaps even earlier.
I wonder what this will do to commodity prices like steel, coal, which are at alltime highs. Some rapid cooling off of prices should be in the offing and these stocks should follow suit.
Throughout history, China has been a little understood country. Alexander the Great, who ventured into India, said "Don't awaken the sleeping tiger" but didnt go there. Pehaps, our understanding of China is no better now.