Cotton futures close lower

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

The most active cotton contract for January 2021 delivery lost 55 yuan ($8.34) to close at 14,480 yuan per ton.

On Tuesday, the total trading volume for five listed cotton futures contracts on the ZCE was 360,629 lots with a turnover of 26.2 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.