ZHENGZHOU, May 15 (Xinhua) — Cotton futures closed lower Wednesday in daytime trading on the Zhengzhou Commodity Exchange (ZCE).
The most active cotton contract for September 2024 delivery lost 270 yuan (about 38.00 U.S. dollars) to close at 14,920 yuan per tonne.
On Wednesday, the total trading volume for six listed cotton futures contracts on the ZCE was 596,769 lots with a turnover of 44.62 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.