The Shanghai United Steel Exchange and the Shanghai United Mining Rights Exchange were set up on Monday, Xinhua News Agency reported.

The steel exchange will serve as a platform for steel e-commerce, on-the-spot steel trading, information delivery, financial services and logistics.

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Scrap steel, iron ore, ferroalloy, pig iron and billets can be traded on this exchange.

Domestic and international mining rights, exploration rights and equity of mining enterprises can be traded on the Shanghai United Mining Rights Exchange. In addition, minerals and mining technologies can also be traded on this exchange.

The Shanghai Environment Energy Exchange holds a stake in each exchange.