Cotton futures closed lower Thursday on the Zhengzhou Commodity Exchange (ZCE).
The most active cotton contract for January delivery lost 85 yuan (12.02 U.S. dollars) to close at 12,890 yuan per tonne.
On Thursday, the total trading volume for 6 listed cotton futures contracts on the ZCE was 292,860 lots with a turnover of 18.93 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.
Courtesy: Xinhua
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