Cotton futures close lower

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ZHENGZHOU, Jan. 2 (Xinhua) -- Cotton futures closed lower Thursday in daytime trading on the Zhengzhou Commodity Exchange (ZCE).

The most active cotton contract for May 2020 delivery lost 10 yuan (about 1.44 U.S. dollars) to close at 13,975 yuan per tonne.

On Thursday, the total trading volume for 6 listed cotton futures contracts on the ZCE was 642,237 lots with a turnover of 45.19 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. Enditem

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