China’s industrial commodities slide after Beijing warns of market crackdown

China’s main industrial commodities tumbled on Thursday after the government announced stepped-up measures to keep a lid on soaring raw material prices which threaten to undermine the country’s economic recovery.

Prices of key steelmaking ingredients iron ore and coking coal , as well as steel products such as rebar and hot-rolled coil , all swooned more than 5% as traders offloaded supplies and speculators placed short-sided bets that…