Cotton futures close lower

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

The most active cotton contract for January 2021 delivery lost 15 yuan ($2.17) to close at 12,850 yuan per ton.

On Thursday, the total trading volume for six listed cotton futures contracts on the ZCE was 229,296 lots with a turnover of 14.59 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.