China – The Shanghai Steel Exchange – alternatively called the Shanghai Lianhe Steel Exchange – is now up and running. Located in Dabaishu in Yangpu District, this is the first spot trading steel exchange in China and combines steel e-commerce, market transactions, information transmission, financial services and logistics distribution into one.
Controlled by the Shanghai Environment Energy Exchange (SEEE), the new platform trades mainly steel scrap, iron ore, iron alloys, slag, pig iron, steel billet, crude steel products and steel products. The mode of transaction follows that of spot trading, commonly seen on the international steel market.
It is contended that the new exchange will help to improve the environment for the development of the steel industry in Shanghai and across the whole of China, while also helping to promote the development of the international steel trade.
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