A trade of volume consists of two disjoint collections and , each containing blocks (-subsets) such that every -subset is contained in the same number of blocks in and . If each -subset occurs at most once in , then is called a Steiner trade. In this paper, the spectrum (that is, the set of allowable volumes) of Steiner trades is discussed, with particular reference to the case . It is shown that the volume of a Steiner trade is at least and cannot equal . We show how to construct a Steiner trade of volume when , or is even and . For or , the non-existence of Steiner trades of volume is demonstrated, and for , we exhibit a Steiner trade of volume . In addition, the structure of Steiner trades of volumes and () is shown to be unique. A generalisation of our constructions to trades with blocks based on arbitrary simple graphs is also presented.