Cotton futures closed lower Thursday in daytime trading on the Zhengzhou Commodity Exchange (ZCE). The most active cotton contract for January 2023 delivery lost 240 yuan (about 33.53 U.S. dollars) to close at 13,000 yuan per tonne. On Thursday, the total trading volume for six listed cotton futures contracts on the ZCE was 547,898 lots with a turnover of 35.88 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.
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