Cotton futures close lower

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

The most active cotton contract for January 2022 delivery lost 210 yuan (about 32.66 U.S. dollars) to close at 21,700 yuan per tonne.

On Tuesday, the total trading volume for six listed cotton futures contracts on the ZCE was 465,900.0 lots with a turnover of 50.21 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.