Cotton futures closed lower Tuesday in daytime trading on the Zhengzhou Commodity Exchange (ZCE).
The most active cotton contract for September 2023 delivery lost 45 yuan (about 6.53 U.S. dollars) to close at 14,790 yuan per tonne.
On Tuesday, the total trading volume for six listed cotton futures contracts on the ZCE was 642,855.0 lots with a turnover of 47.13 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.