Cotton futures close higher

ZHENGZHOU - Cotton futures closed higher Monday in daytime trading on the Zhengzhou Commodity Exchange (ZCE).

The most active cotton contract for January 2021 delivery gained 115 yuan ($16.58) to close at 12,920 yuan per ton.

On Monday, the total trading volume for six listed cotton futures contracts on the ZCE was 373,842 lots with a turnover of 23.83 billion yuan.

As the world's largest producer, consumer and exporter of textile, China listed cotton futures on ZCE in June 2004, helping cotton-related enterprises hedge the price risk.