Cotton futures close lower

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

The most active cotton contract for September 2020 delivery lost 35 yuan ($5.02) to close at 12,070 yuan per ton.

On Wednesday, the total trading volume for five listed cotton futures contracts on the ZCE was 298,424 lots with a turnover of 18.3 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.