ZHENGZHOU, Jan. 31 (Xinhua) — Cotton futures closed lower Wednesday in daytime trading on the Zhengzhou Commodity Exchange (ZCE).
The most active cotton contract for May 2024 delivery lost 15 yuan (about 2.11 U.S. dollars) to close at 16,085 yuan per tonne.
On Wednesday, the total trading volume for six listed cotton futures contracts on the ZCE was 367,822 lots with a turnover of 29.53 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.